There’s a lot to be optimistic about in the NA sector as 2 analysts just weighed in on Merit Medical Systems (NASDAQ:MMSI) and Perficient (NASDAQ:PRFT) with bullish sentiments.
Merit Medical Systems (MMSI)
Barrington analyst Michael Petusky maintained a Buy rating on Merit Medical Systems today and set a price target of $69. The company’s shares closed yesterday at $64.95, close to its 52-week high of $66.34.
Petusky observed:
“We expect Merit Medical to generate approximately $219.7 million in revenue in the third quarter. This result would represent a 22.5% increase versus the comparable quarter in 2017. About 35‐40% of this increase is expected to be driven by organic growth with about 60‐65% of the overall growth being attributable to recent M&A activity. The consensus revenue estimate for Q3/18 is $216.9 million. In terms of reportable segments, we expect the cardiovascular segment to generate $211.6 million, or about 96% of the total revenue for the quarter.”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 13.8% and a 58.3% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and DENTSPLY SIRONA Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Merit Medical Systems with a $67.75 average price target.
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Perficient (PRFT)
In a report released today, Vincent Colicchio from Barrington maintained a Buy rating on Perficient, with a price target of $31. The company’s shares closed yesterday at $26.02.
Colicchio noted:
“We expect Perficient to report Q3/18 revenue of $124.3 million, which is largely in line with the FactSet consensus of $124.9 million. Our revenue forecast represents a largely flat change YOY and a 2% increase sequentially. We expect services revenue, comprising 95% of trailing twelve months’ (TTM) revenue, to increase 5% YOY and software/hardware revenue, comprising 5% of TTM revenue, to decline 84% YOY. The year‐over‐year decline in software/hardware revenue should be negatively impacted by a change in accounting practices. On an organic basis, we expect total revenue to decline 5% YOY and services revenue to decline 1% YOY.”
According to TipRanks.com, Colicchio is a 3-star analyst with an average return of 3.6% and a 58.5% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Convergys Corp.
Perficient has an analyst consensus of Strong Buy, with a price target consensus of $32.67.
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