Brokerages Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Target Price at $101.82

Merit Medical Systems, Inc. (NASDAQ:MMSI) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $101.82.

A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a research note on Monday, September 16th. Wells Fargo & Company upped their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Barrington Research restated an “outperform” rating and set a $114.00 target price on shares of Merit Medical Systems in a research note on Friday, October 18th. Bank of America increased their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th.

Merit Medical Systems Stock Up 0.6 %

Shares of MMSI opened at $95.90 on Friday. The stock has a market capitalization of $5.57 billion, a PE ratio of 55.11, a P/E/G ratio of 2.41 and a beta of 0.87. Merit Medical Systems has a 1 year low of $65.46 and a 1 year high of $101.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. The company’s 50-day simple moving average is $96.30 and its 200-day simple moving average is $87.57.

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

Institutional Investors Weigh In On Merit Medical Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of MMSI. Point72 Asset Management L.P. lifted its holdings in Merit Medical Systems by 147.2% in the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after acquiring an additional 377,851 shares during the period. International Assets Investment Management LLC acquired a new stake in Merit Medical Systems in the third quarter valued at $21,156,000. Handelsbanken Fonder AB lifted its holdings in Merit Medical Systems by 1,343.5% in the third quarter. Handelsbanken Fonder AB now owns 192,109 shares of the medical instruments supplier’s stock valued at $18,986,000 after acquiring an additional 178,800 shares during the period. F M Investments LLC acquired a new position in shares of Merit Medical Systems during the 2nd quarter worth $12,550,000. Finally, Westwood Holdings Group Inc. raised its stake in shares of Merit Medical Systems by 17.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after buying an additional 131,977 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.