Canaccord Genuity analyst John Young CFA maintained a Buy rating on Merit Medical Systems yesterday and set a price target of $112.00.
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John Young CFA has given his Buy rating due to a combination of factors including the strategic leadership transition and the company’s robust financial performance. The appointment of Martha Aronson as the new President and CEO is a significant development, as she brings extensive experience from leading roles in major healthcare companies. Her background and focus on operational excellence are expected to continue driving the company’s growth.
Moreover, Merit Medical Systems reported impressive preliminary Q2 revenue results that surpassed both the firm’s and market expectations. The anticipated revenue growth of 12% to 14% year-over-year indicates strong business momentum. This financial outperformance, coupled with the leadership change, supports the positive outlook and justifies the Buy rating with a price target of $112.
In another report released today, Needham also reiterated a Buy rating on the stock with a $108.00 price target.
MMSI’s price has also changed slightly for the past six months – from $95.860 to $91.120, which is a -4.94% drop .