Merit Medical Systems (NASDAQ:MMSI) PT Raised to $93.00 at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI) had its price target boosted by Needham & Company LLC from $85.00 to $93.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s target price indicates a potential upside of 7.51% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Robert W. Baird started coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price target for the company. Piper Sandler lifted their target price 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. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. CL King started coverage on shares of Merit Medical Systems in a report on Thursday, April 11th. They set a “buy” rating and a $88.00 target price for the company. Finally, Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $96.20.

Merit Medical Systems Stock Up 1.0 %

Shares of MMSI opened at $86.50 on Monday. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 49.71, a P/E/G ratio of 2.40 and a beta of 0.88. 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 has a 12 month low of $62.58 and a 12 month high of $87.44. The company has a 50-day moving average price of $81.10 and a two-hundred day moving average price of $77.85.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $323.51 million during the quarter, compared to analysts’ expectations of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. Merit Medical Systems’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Equities analysts predict that Merit Medical Systems will post 3.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the sale, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 transaction, the chief operating officer now owns 14,819 shares in the company, valued at approximately $1,212,935.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the completion of the transaction, the director now owns 32,391 shares in the company, valued at approximately $2,753,235. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Valued Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter worth approximately $29,000. Parallel Advisors LLC lifted its holdings 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 worth $30,000 after acquiring an additional 212 shares during the period. Tompkins Financial Corp bought a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $38,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Merit Medical Systems during the 1st quarter worth approximately $44,000. Finally, Headlands Technologies LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

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.