Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $92.78 Average Price Target from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $92.78.

A number of research firms recently weighed in on MMSI. CL King assumed coverage on Merit Medical Systems in a research report on Thursday, April 11th. They set a “buy” rating and a $88.00 target price on the stock. Canaccord Genuity Group decreased their price objective on Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Needham & Company LLC decreased their price objective on Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Oppenheimer lifted their price objective on Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd.

Merit Medical Systems Stock Up 0.2 %

MMSI stock opened at $82.96 on Monday. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $85.18. The company has a market cap of $4.82 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 2.31 and a beta of 0.91. The business’s 50-day simple moving average is $80.07 and its 200 day simple moving average is $77.39. The company has a quick ratio of 4.38, a current ratio of 6.03 and a debt-to-equity ratio of 0.65.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The business had revenue of $323.51 million for the quarter, compared to the consensus estimate of $315.57 million. During the same period last year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that Merit Medical Systems will post 3.33 earnings per share for the current year.

Insider Transactions at Merit Medical Systems

In related news, COO Neil Peterson sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $81.85, for a total value of $613,875.00. Following the completion of the transaction, the chief operating officer now owns 14,819 shares in the company, valued at approximately $1,212,935.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Valued Wealth Advisors LLC bought a new position in Merit Medical Systems in the 4th quarter worth approximately $29,000. Parallel Advisors LLC raised its position in shares of Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 212 shares during the last quarter. Tompkins Financial Corp bought a new stake in shares of Merit Medical Systems during the 4th quarter valued at $38,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Merit Medical Systems during the 1st quarter valued at $44,000. Finally, Headlands Technologies LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter valued at $50,000. Institutional investors 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.