Needham analyst Mike Matson raised the firm’s price target on Merit Medical to $88 from $81 and keeps a Buy rating on the shares. The company’s 2024 revenue guidance was below consensus and its EPS guidance bracketed consensus, though the management also provided its Continued Growth Initiatives Program, with three-year financial targets, which “bracketed consensus” and were likely conservative, the analyst tells investors in a research note. Needham adds that its valuation framework shifts to 2025 estimates, also raising its FY25 EPS view to $3.67 from $3.58.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MMSI:
- Merit Medical Systems Unveils Growth Plans in Earnings Call
- Merit Medical Reports Results For Fourth Quarter and Year Ended December 31, 2023 – Issues Fiscal Year 2024 Guidance
- Merit Medical Introduces “Continued Growth Initiatives” Program and Financial Targets for Three-Year Period Ending December 31, 2026
- MMSI Earnings this Week: How Will it Perform?
- Merit Medical Receives FDA 510(k) Clearance for SCOUT® MD™ Surgical Guidance System
