Merit Medical price target lowered to $105 from $110 at Piper Sandler

Piper Sandler analyst Jason Bednar lowered the firm’s price target on Merit Medical (MMSI) to $105 from $110 and keeps an Overweight rating on the shares. The firm notes the company announced Q2 revenue consistent with the pre-release of $382.5M/+12.5% cc, and EPS of $1.01 finished ahead of Street’s 85c with margin upside materializing once again. Guidance was raised for operational and tariff factors, and it’s this upper end that seems likely to be in play assuming no major new surprises on the tariff front, Piper adds.