.png "Merit Medical Systems (NASDAQ: MMSI)")
Barrington analyst Michael Petusky initiated coverage with a Buy rating on Merit Medical Systems (MMSI) today and set a price target of $59. The company’s shares closed last Monday at $27.40, close to its 52-week low of $25.67.
Petusky observed:
“We would gently suggest that with shares down over 55% over the past few months that perhaps the miss, the guidedown, the “drama”, and even a riskier near‐term growth profile might mostly be “in the stock” at this point. We simply think the risk/reward now favors investment – even if Q3 comes in soft. We will try to make our argument in brief below.”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 4.4% and a 52.8% 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 Moderate Buy analyst consensus rating for Merit Medical Systems with a $58 average price target.
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Merit Medical Systems’ market cap is currently $1.54B and has a P/E ratio of 40.28. The company has a Price to Book ratio of 1.62.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2019, Justin Lampropoulos, the EVP GLOBAL SALES, MKTG & STGY of MMSI sold 8,000 shares for a total of $486,880.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
