Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $107.50 Average Price Target from Brokerages

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $106.50.

MMSI has been the topic of several recent analyst reports. Raymond James Financial reduced their price objective on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Piper Sandler reduced their price objective on shares of Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Barrington Research reissued an “outperform” rating and set a $103.00 price objective on shares of Merit Medical Systems in a research note on Tuesday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price target on shares of Merit Medical Systems in a report on Friday, July 18th. Finally, Canaccord Genuity Group boosted their price objective on shares of Merit Medical Systems from $103.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday.

Insider Activity at Merit Medical Systems

In related news, Director Lynne N. Ward sold 3,000 shares of Merit Medical Systems stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the transaction, the director owned 12,809 shares in the company, valued at approximately $1,134,365.04. The trade was a 18.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Merit Medical Systems

A number of institutional investors have recently added to or reduced their stakes in MMSI. Maseco LLP purchased a new stake in Merit Medical Systems during the 2nd quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in Merit Medical Systems during the 1st quarter worth $31,000. IFP Advisors Inc increased its stake in Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock worth $32,000 after buying an additional 287 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Merit Medical Systems by 55.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 200 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Stock Up 1.3%

MMSI stock opened at $81.86 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. The firm has a market capitalization of $4.85 billion, a PE ratio of 41.55, a P/E/G ratio of 2.63 and a beta of 0.58. The company’s 50 day simple moving average is $85.40 and its 200-day simple moving average is $89.91. Merit Medical Systems has a 12 month low of $78.12 and a 12 month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $382.46 million for the quarter, compared to the consensus estimate of $372.47 million. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Equities analysts expect that Merit Medical Systems will post 3.37 earnings per share for the current fiscal year.

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.