Merit Medical's Recent M&A Efforts Set To Show Early Impact In FY24: Analyst Insight
Portfolio Pulse from Nabaparna Bhattacharya
Barrington Research analyst Michael Petusky has reiterated an Outperform rating on Merit Medical Systems, Inc. (MMSI) with a price target of $95. The company is expected to report 4%-6% revenue growth in 2Q 2023. Petusky expects Merit's peripheral intervention business to grow 9% Y/Y to $120.9 million, while the cardiac intervention is estimated to generate $92.3 million, up 3% Y/Y in 2Q. The analyst also expects Merit to continue affirming its multi-year growth plan foundations, generating at least $300 million in aggregate free cash flow in 2021, 2022, and 2023.

July 06, 2023 | 7:06 pm
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Merit Medical Systems, Inc. (MMSI) is expected to report 4%-6% revenue growth in 2Q 2023. The company's peripheral intervention business is expected to grow 9% Y/Y to $120.9 million, while the cardiac intervention is estimated to generate $92.3 million, up 3% Y/Y in 2Q. The analyst also expects Merit to continue affirming its multi-year growth plan foundations, generating at least $300 million in aggregate free cash flow in 2021, 2022, and 2023.
The analyst's positive outlook on MMSI's revenue growth and continued affirmation of its multi-year growth plan is likely to have a positive impact on the company's stock price in the short term. The company's expected growth in its peripheral intervention and cardiac intervention businesses also adds to the positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100