After Piper Jaffray and Needham 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 opened today at $54.37.
Petusky wrote:
“We traveled with Merit Medical management last week as the company met with some Denver‐based investors. We came away from those meetings with an increased sense of confidence regarding Merit’s business prospects and will highlight some of what was discussed below.”
According to TipRanks.com, Petusky is a 3-star analyst with an average return of 1.1% and a 45.8% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and DENTSPLY SIRONA Inc.
Merit Medical Systems has an analyst consensus of Strong Buy, with a price target consensus of $72.33.
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Based on Merit Medical Systems’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $6.2 million. In comparison, last year the company had a net profit of $5.27 million.
Based on the recent corporate insider activity of 34 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.
