Needham analyst Michael Matson (NYSE:MATX) maintained a Buy rating on Merit Medical Systems (NASDAQ:MMSI) on Tuesday, setting a price target of $83, which is approximately 19.27% above the present share price of $69.59.
Matson expects Merit Medical Systems to post earnings per share (EPS) of $0.09 for the fourth quarter of 2021.
The current consensus among 6 TipRanks analysts is for a Strong Buy rating of shares in Merit Medical Systems, with an average price target of $76.
The analysts price targets range from a high of $83 to a low of $68.
In its latest earnings report, released on 06/30/2021, the company reported a quarterly revenue of $280.33 million and a net profit of $14.98 million. The company's market cap is $3.92 billion.
According to TipRanks.com, Needham analyst Michael Matson is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 15.5% and a 62.16% success rate.
Merit Medical Systems, Inc. engages in the manufacture and market of proprietary disposable medical devices. It operates through Cardiovascular and Endoscopy segments. The Cardiovascular segment consists of peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care product groups. The Endoscopy segment integrates advanced non-vascular stent technology with balloon dilators, inflation devices, guide wires, procedure kits, and other devices that are used by gastroenterologists, endoscopists, pulmonologists, and thoracic and general surgeons. The company was founded by Fred P. Lampropoulos, Darla Gill, Kent W. Stanger and William Padilla in July 1987 and is headquartered in South Jordan, UT.