Piper Sandler raised the firm’s price target on Merit Medical (MMSI) to $109 from $105 and keeps an Overweight rating on the shares. The firm notes the company announced Q3 results that once again beat at both the top and bottom lines with 8% organic revenue growth and 9c EPS beat, but it may have been the gross margin upside in Q3 that was most impressive in the period. Full year guidance was raised as well, but in typical Merit Medical fashion Piper sees the implied guide for Q4 as being set in a prudent/responsible way.
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