Merit Medical price target raised to $114 from $110 at Piper Sandler

Piper Sandler raised the firm’s price target on Merit Medical (MMSI) to $114 from $110 and keeps an Overweight rating on the shares after meeting with management. The key takeaways from the meeting include a top line beat in Q4 that Piper confirmed was broad-based across segments and geographies, incremental WRAPSODY tidbits ahead of the virtual investor event, messaging on China VBP that is consistent with past messaging, and a discussion on tariff unknowns that make conclusions tough to draw from that topic. For shares, the quarterly results from the company continue to be remarkably solid, and the firm is inching towards the WRAPSODY catalysts being more financial-related than past milestones, and it’s the combination of the solid MMSI core plus WRAPSODY building throughout 2025 that keeps it comfortably in the positive camp on this stock. Merit Medical continues to be one of Piper’s top ideas for the year, the firm adds.