Merit Medical Systems (NASDAQ:MMSI) Lifted to “Buy” at StockNews.com

Merit Medical Systems (NASDAQ:MMSI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also recently issued reports about the company. Bank of America raised their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a research report on Friday, June 28th. Robert W. Baird began coverage on Merit Medical Systems in a research report on Friday, June 28th. They set an “outperform” rating and a $96.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems Stock Up 0.1 %

Shares of MMSI stock opened at $96.00 on Friday. Merit Medical Systems has a twelve month low of $63.13 and a twelve month high of $101.60. The stock has a market cap of $5.59 billion, a P/E ratio of 48.00, a P/E/G ratio of 2.41 and a beta of 0.87. The stock has a 50 day moving average of $96.11 and a 200 day moving average of $87.05. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62.

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

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of MMSI. American Century Companies Inc. raised its holdings in Merit Medical Systems by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after acquiring an additional 118 shares during the last quarter. Xponance Inc. increased its holdings in shares of Merit Medical Systems by 4.9% in the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock valued at $311,000 after purchasing an additional 170 shares during the last quarter. Entropy Technologies LP increased its holdings in shares of Merit Medical Systems by 6.5% in the first quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock valued at $251,000 after purchasing an additional 203 shares during the last quarter. Park Avenue Securities LLC lifted its position in Merit Medical Systems by 5.9% during the third quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier’s stock worth $394,000 after buying an additional 223 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Merit Medical Systems by 19.7% during the second quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier’s stock worth $123,000 after buying an additional 235 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

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.