Merit Medical Systems (NASDAQ:MMSI) Rating Increased to Buy at StockNews.com

Merit Medical Systems (NASDAQ:MMSI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities analysts have also commented on MMSI. CL King started coverage on shares of Merit Medical Systems in a research report on Thursday, April 11th. They set a “buy” rating and a $88.00 price target for the company. Barrington Research upped their price objective on shares of Merit Medical Systems from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Oppenheimer upped their price objective on shares of Merit Medical Systems from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Piper Sandler upped their price objective on shares of Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Needham & Company LLC reduced their price objective on shares of Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and a consensus price target of $93.10.

Merit Medical Systems Stock Up 3.0 %

Merit Medical Systems stock opened at $85.95 on Thursday. The company has a 50-day simple moving average of $80.60 and a 200-day simple moving average of $77.55. The firm has a market capitalization of $4.99 billion, a P/E ratio of 49.40, a P/E/G ratio of 2.31 and a beta of 0.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. Merit Medical Systems has a one year low of $62.58 and a one year high of $86.44.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. The business had revenue of $323.51 million during the quarter, compared to analyst estimates of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, equities analysts expect that Merit Medical Systems will post 3.33 earnings per share for the current year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 14,819 shares of the company’s stock, valued at approximately $1,212,935.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Merit Medical Systems

Several institutional investors and hedge funds have recently bought and sold shares of MMSI. Valued Wealth Advisors LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth about $29,000. Parallel Advisors LLC raised its holdings in Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 212 shares during the period. Tompkins Financial Corp acquired a new stake in Merit Medical Systems during the 4th quarter worth about $38,000. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems during the 1st quarter worth about $44,000. Finally, Headlands Technologies LLC acquired a new stake in Merit Medical Systems during the 1st quarter worth about $50,000. 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.