Merit Medical price target lowered to $85 from $90 at Canaccord

Canaccord lowered the firm’s price target on Merit Medical (MMSI) to $85 from $90 and keeps a Buy rating on the shares. The firm said they reported a Q1 beat and largely reiterated the guidance provided in early February. They believe the company continues to execute against its core playbook driving operating margin expansion through disciplined spending while using M&A to support both top-line growth and longer-term margin improvement.