Investment Analysts’ Weekly Ratings Changes for Merit Medical Systems (MMSI)

Merit Medical Systems (NASDAQ: MMSI) recently received a number of ratings updates from brokerages and research firms:

• 9/20/2024 – Merit Medical Systems had its price target raised by analysts at Barrington Research from $100.00 to $114.00. They now have an “outperform” rating on the stock.
• 9/18/2024 – Merit Medical Systems was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/16/2024 – Merit Medical Systems had its price target raised by analysts at Bank of America Co. from $92.00 to $103.00. They now have a “neutral” rating on the stock.
• 9/16/2024 – Merit Medical Systems had its price target raised by analysts at Wells Fargo & Company from $85.00 to $103.00. They now have an “equal weight” rating on the stock.
• 9/16/2024 – Merit Medical Systems had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $105.00 price target on the stock.
• 9/9/2024 – Merit Medical Systems had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $110.00 price target on the stock, up previously from $100.00.
• 8/28/2024 – Merit Medical Systems had its price target raised by analysts at Needham & Company LLC from $94.00 to $105.00. They now have a “buy” rating on the stock.
• 8/5/2024 – Merit Medical Systems had its price target raised by analysts at Bank of America Co. from $87.00 to $92.00. They now have a “neutral” rating on the stock.
• 8/5/2024 – Merit Medical Systems was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/2/2024 – Merit Medical Systems had its price target raised by analysts at Piper Sandler from $97.00 to $100.00. They now have an “overweight” rating on the stock.
• 8/2/2024 – Merit Medical Systems had its price target raised by analysts at Needham & Company LLC from $93.00 to $94.00. They now have a “buy” rating on the stock.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI opened at $98.83 on Tuesday. Merit Medical Systems, Inc. has a 12 month low of $62.58 and a 12 month high of $101.60. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. The company has a market cap of $5.74 billion, a P/E ratio of 56.80, a P/E/G ratio of 2.52 and a beta of 0.87. The business’s 50 day moving average is $93.24 and its two-hundred day moving average is $84.26.

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

Institutional Trading of Merit Medical Systems

Large investors have recently made changes to their positions in the business. UniSuper Management Pty Ltd bought a new position in shares of Merit Medical Systems in the first quarter worth about $1,083,000. Quantbot Technologies LP raised its position in shares of Merit Medical Systems by 17,716.1% during the first quarter. Quantbot Technologies LP now owns 9,977 shares of the medical instruments supplier’s stock worth $756,000 after acquiring an additional 9,921 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Merit Medical Systems by 36.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,144 shares of the medical instruments supplier’s stock valued at $1,638,000 after acquiring an additional 5,915 shares during the period. BNP Paribas Financial Markets increased its position in Merit Medical Systems by 55.3% in the first quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock worth $4,011,000 after purchasing an additional 18,863 shares during the period. Finally, Congress Asset Management Co. MA lifted its position in Merit Medical Systems by 4,411.3% during the 1st quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after purchasing an additional 506,992 shares during the period. Institutional investors own 99.66% of the company’s stock.

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.