.png "Merit Medical Systems (NASDAQ: MMSI)")
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 opened today at $56.10.
Matson noted:
“MMSI announced it is has acquired substantially all of the assets of Vascular Insights (private) for $40M of cash upfront and up to $20M in milestone payments. Vascular Insights’ ClariVein products are used to treat superficial venous disease and serve an estimated ~$700M market. MMSI expects the deal to be ~$0.02 dilutive and between $0.00-0.02 accretive to 2018 and 2019 non-GAAP EPS, respectively, and to contribute between $10-11M in revenue in 2019. The Vascular Insights deal is consistent with both our investment thesis and MMSI’s M&A strategy and we reiterate our Buy rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 9.7% and a 57.4% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
Merit Medical Systems has an analyst consensus of Strong Buy, with a price target consensus of $73.83.
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Based on Merit Medical Systems’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $16.62 million. In comparison, last year the company had a GAAP net loss of $3.57 million.
Based on the recent corporate insider activity of 26 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.
