After Barrington and Piper Sandler gave Merit Medical Systems (NASDAQ: MMSI) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Steven Lichtman assigned a Buy rating to Merit Medical Systems today and set a price target of $46.00. The company’s shares closed last Tuesday at $43.15.
According to TipRanks.com, Lichtman is a 1-star analyst with an average return of -3.0% and a 50.7% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Zimmer Biomet Holdings, and Integra Lifesciences.
Merit Medical Systems has an analyst consensus of Moderate Buy, with a price target consensus of $43.50, representing a -5.4% downside. In a report issued on May 18, Barrington also maintained a Buy rating on the stock with a $42.00 price target.
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Based on Merit Medical Systems’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $244 million and GAAP net loss of $3.15 million. In comparison, last year the company earned revenue of $238 million and had a net profit of $6.2 million.
Based on the recent corporate insider activity of 25 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. The Endoscopy segment integrates advanced non-vascular stent technology with balloon dilators, inflation devices, guide wires, procedure kits, and other devices that are used by gastroenterologists, endoscopists, pulmonologists, and thoracic and general surgeons. The company was founded by Fred P. Lampropoulos, Darla Gill, Kent W. Stanger and William Padilla in July 1987 and is headquartered in South Jordan, UT.
