Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $98.20 Average Target Price from Brokerages

Merit Medical Systems, Inc. (NASDAQ:MMSI) has received an average rating of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $99.20.

MMSI has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Merit Medical Systems from $87.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Baird R W upgraded shares of Merit Medical Systems to a “strong-buy” rating in a research report on Friday, June 28th. StockNews.com upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday. Finally, Needham & Company LLC lifted their price objective on shares of Merit Medical Systems from $94.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th.

Merit Medical Systems Trading Up 0.9 %

Merit Medical Systems stock opened at $97.46 on Friday. The firm’s 50-day moving average is $89.57 and its 200-day moving average is $81.92. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $98.04. The company has a market cap of $5.67 billion, a P/E ratio of 56.01, a PEG ratio of 2.51 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The company had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. On average, equities analysts expect that Merit Medical Systems will post 3.31 earnings per share for the current year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the firm’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 transaction, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Merit Medical Systems

Several large investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems in the 2nd quarter worth approximately $29,000. Parallel Advisors LLC grew its stake in shares of Merit Medical Systems by 114.6% in the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Merit Medical Systems in the 1st quarter worth approximately $44,000. Headlands Technologies LLC acquired a new position in shares of Merit Medical Systems in the 1st quarter worth approximately $50,000. Finally, EntryPoint Capital LLC grew its stake in shares of Merit Medical Systems by 2,666.7% in the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 880 shares during the last quarter. 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.