The analyst applauds the $100 million deal, viewing it as the company's "first meaningful" acquisition in several years. The analyst adds that the financial aspects of the agreement are attractive.

The acquired assets from AngioDynamics complement MMSI's existing hemodialysis catheters, peritoneal dialysis catheters, PTA balloon catheters, and WRAPSODY stent graft (which has a CE Mark but is not FDA approved yet), the analyst notes. 

In a separate deal, Merit Medicals also acquired the Surfacer Inside-Out Access Catheter System from Bluegrass Vascular Technologies (private) for $32.5 million.

The analyst notes that management is implementing a detailed plan to drive its operating margin higher and improve cash flow, aiming to reach an 18-21% operating margin in 2023.

Price Action: MMSI shares are trading lower by 0.81% to $83.58 on the last check Friday.