Needham analyst Michael Matson has reiterated their bullish stance on MMSI stock, giving a Buy rating on July 16.
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Michael Matson has given his Buy rating due to a combination of factors related to Merit Medical Systems’ recent product launch. The company introduced the WRAPSODY Cell-Impermeable Endoprosthesis, a stent graft designed for hemodialysis patients, which has shown potential as a significant growth driver for revenue and earnings.
Despite challenges in securing higher reimbursement rates, Matson believes that the existing reimbursement framework, coupled with strategic pricing adjustments, could support the product’s success. The potential for WRAPSODY to contribute positively to the company’s financial performance underpins the Buy rating, reflecting confidence in its market prospects.
Matson covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, TransMedics Group, and Establishment Labs Holdings. According to TipRanks, Matson has an average return of -6.6% and a 38.00% success rate on recommended stocks.
In another report released on July 16, Robert W. Baird also maintained a Buy rating on the stock with a $112.00 price target.