Needham analyst Michael Matson maintained a Buy rating on Merit Medical Systems today and set a price target of $108.00.
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Michael Matson has given his Buy rating due to a combination of factors related to Merit Medical Systems’ strategic adjustments and growth potential. Despite the withdrawal of the Transitional Pass-Through application for the WRAPSODY product, the company is implementing a new commercial strategy aimed at increasing patient access and has launched WRAPSODY commercially in the US. This move is expected to enhance its market competitiveness with improved clinical data and a more viable pricing strategy.
Furthermore, Merit Medical Systems has maintained its sales guidance for WRAPSODY, projecting significant revenue growth by 2025. Even with a lower price point, WRAPSODY is anticipated to contribute meaningfully to the company’s revenue and earnings growth. The overall strength of Merit Medical Systems’ business and the potential for exceeding market expectations further support the Buy rating.
In another report released on November 1, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $100.00 price target.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MMSI in relation to earlier this year.