Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $110.00 at Piper Sandler

Merit Medical Systems (NASDAQ:MMSI) had its price objective hoisted by Piper Sandler from $106.00 to $110.00 in a report released on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the medical instruments supplier’s stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They set an “overweight” rating and a $120.00 price objective for the company. Canaccord Genuity Group raised their target price on shares of Merit Medical Systems from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC lifted their price target on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Barrington Research cut their price objective on Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $108.00 price objective (up from $106.00) on shares of Merit Medical Systems in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.11.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $95.38 on Friday. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 46.76, a PEG ratio of 2.34 and a beta of 0.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems has a 12 month low of $80.02 and a 12 month high of $111.45. The stock’s 50 day moving average price is $96.52 and its 200 day moving average price is $100.51.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Merit Medical Systems will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 12,451 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the transaction, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. The trade was a 33.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian G. Lloyd sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the transaction, the insider now owns 38,993 shares in the company, valued at approximately $3,879,803.50. This represents a 39.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,382 shares of company stock valued at $13,189,508 over the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Merit Medical Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier’s stock worth $643,058,000 after purchasing an additional 63,314 shares during the last quarter. FMR LLC grew its stake in shares of Merit Medical Systems by 31.6% in the 4th quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier’s stock valued at $200,833,000 after buying an additional 499,193 shares in the last quarter. Invesco Ltd. increased its holdings in Merit Medical Systems by 16.4% in the first quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier’s stock worth $188,934,000 after buying an additional 251,821 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Merit Medical Systems by 8.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,766,711 shares of the medical instruments supplier’s stock valued at $186,759,000 after acquiring an additional 133,465 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new stake in Merit Medical Systems in the first quarter worth approximately $134,517,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.