Merit Medical Systems (MMSI) Gets a Buy Rating from Needham


In a report released today, Michael Matson from Needham reiterated a Buy rating on Merit Medical Systems (MMSI), with a price target of $73. The company’s shares closed yesterday at $59.10.

Matson said:

“On 10/1/18, MMSI announced that it had signed a definitive merger agreement to acquire Cianna Medical. On 11/13/18, MMSI announced that it had closed the Cianna acquisition, provided guidance for Cianna’s contribution to its 2018 financials, and reiterated its prior guidance for Cianna’s contribution to its 2019 financials. We have added Cianna Medical to our model and raised our sales and EPS estimates. Despite the increase, we believe that Cianna is a potential source of upside to our new estimates and we reiterate our Buy rating.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 10.7% and a 61.4% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Merit Medical Systems with a $72.67 average price target.

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Merit Medical Systems’ market cap is currently $3.24B and has a P/E ratio of 79.69. The company has a Price to Book ratio of 3.51.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is neutral on the stock.

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Merit Medical Systems, Inc. engages in the manufacture and market of proprietary disposable medical devices. It operates through Cardiovascular and Endoscopy segments. The Cardiovascular segment consists of peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care product groups.

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