Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a research report issued on Tuesday, Marketbeat reports. They currently have a $50.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $42.00. Piper Sandler’s price objective suggests a potential upside of 32.59% from the company’s previous close. Piper Sandler also issued estimates for Merit Medical Systems’ Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.46 EPS, Q3 2020 earnings at $0.31 EPS, Q4 2020 earnings at $0.46 EPS, FY2020 earnings at $1.55 EPS, Q1 2021 earnings at $0.38 EPS, Q2 2021 earnings at $0.52 EPS, Q3 2021 earnings at $0.36 EPS, Q4 2021 earnings at $0.52 EPS and FY2021 earnings at $1.79 EPS.
Other equities analysts have also recently issued reports about the company. Piper Jaffray Companies reduced their price objective on Merit Medical Systems from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Merit Medical Systems in a report on Thursday, October 31st. Oppenheimer lifted their price objective on Merit Medical Systems from to in a report on Friday, February 7th. ValuEngine raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, February 1st. Finally, Raymond James lifted their price objective on Merit Medical Systems from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $44.50.
Shares of MMSI stock opened at $37.71 on Tuesday. The stock has a fifty day moving average price of $37.89 and a 200 day moving average price of $32.17. The stock has a market cap of $2.20 billion, a PE ratio of 419.05, a P/E/G ratio of 3.04 and a beta of 1.06. Merit Medical Systems has a 1 year low of $19.50 and a 1 year high of $63.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.47 and a current ratio of 2.50.
Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Monday, February 24th. The medical instruments supplier reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $257.92 million during the quarter, compared to analysts’ expectations of $252.31 million. Merit Medical Systems had a return on equity of 8.67% and a net margin of 0.55%. Merit Medical Systems’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, equities research analysts predict that Merit Medical Systems will post 1.56 earnings per share for the current year.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Merit Medical Systems by 6.2% in the second quarter. BlackRock Inc. now owns 8,567,745 shares of the medical instruments supplier’s stock valued at $510,294,000 after purchasing an additional 502,387 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Merit Medical Systems by 29.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 5,283,404 shares of the medical instruments supplier’s stock valued at $164,948,000 after purchasing an additional 1,197,629 shares during the period. Nuance Investments LLC purchased a new stake in Merit Medical Systems during the fourth quarter valued at about $65,906,000. State Street Corp grew its position in Merit Medical Systems by 3.0% during the fourth quarter. State Street Corp now owns 1,957,692 shares of the medical instruments supplier’s stock valued at $61,119,000 after acquiring an additional 57,818 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Merit Medical Systems by 117.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,531,025 shares of the medical instruments supplier’s stock valued at $47,799,000 after acquiring an additional 826,911 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.
About Merit Medical Systems
Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.
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