.png "Merit Medical Systems (NASDAQ: MMSI)")
After Needham and Piper Jaffray gave Merit Medical Systems (NASDAQ: MMSI) a Buy rating last month, the company received another Buy, this time from 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 $59.20.
Petusky said:
“We continue to be optimistic regarding Merit Medical’s ability to deliver above-average core top-line growth through at least FY/20.”
According to TipRanks.com, Petusky is a 3-star analyst with an average return of 2.8% and a 48.9% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and DENTSPLY SIRONA Inc.
Currently, the analyst consensus on Merit Medical Systems is a Strong Buy with an average price target of $72.33, a 22.2% upside from current levels. In a report issued on April 10, Needham also maintained a Buy rating on the stock with a $73 price target.
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Based on Merit Medical Systems’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $9.19 million. In comparison, last year the company had a net profit of $5.27 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative 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.
