Wells Fargo analyst Larry Biegelsen lowered the firm’s price target on Merit Medical (MMSI) to $95 from $103 and keeps an Overweight rating on the shares. The firm notes the company withdrew Wrapsody’s TPT bid after CMS pushed approval to 2027, with management pivoting to full U.S. launch under a new strategy. Missteps have hurt potential Wrapsody upside and management credibility, but strong core business momentum supports Wells’ bullish stance.
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