In a report released yesterday, John Young CFA from Canaccord Genuity maintained a Buy rating on Merit Medical Systems, with a price target of $103.00.
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John Young CFA has given his Buy rating due to a combination of factors that highlight Merit Medical Systems’ strong performance and strategic initiatives. The company has demonstrated robust results in the first half of the year and has raised its guidance, projecting significant year-over-year revenue growth. This growth is bolstered by contributions from recent acquisitions, which are being effectively integrated into the company’s operations.
Additionally, Merit Medical Systems is making notable improvements in its operating margins, surpassing the goals set in its Continued Growth Initiatives. The company is focusing on enhancing operational efficiencies through strategic initiatives related to headcount, facilities, and product mix. Furthermore, the company is actively working on securing reimbursement for its Wrapsody product, which, despite initial setbacks, shows promise for future financial benefits. These factors collectively support the Buy rating, indicating a positive outlook for the company’s stock.
According to TipRanks, Young CFA is an analyst with an average return of -9.6% and a 32.35% success rate. Young CFA covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, AngioDynamics, and Staar Surgical.
In another report released on August 11, TR | OpenAI – 4o also upgraded the stock to a Buy with a $95.00 price target.