Wells Fargo & Company Cuts Merit Medical Systems (NASDAQ:MMSI) Price Target to $117.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective cut by Wells Fargo & Company from $120.00 to $117.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

Several other equities analysts have also issued reports on MMSI. Robert W. Baird boosted their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Barrington Research boosted their target price on shares of Merit Medical Systems from $114.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Raymond James boosted their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Needham & Company LLC dropped their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.78.

Merit Medical Systems Price Performance

MMSI stock opened at $102.04 on Wednesday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 2.34 and a beta of 0.87. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems has a 12-month low of $70.70 and a 12-month high of $111.45. The company’s fifty day simple moving average is $102.91 and its 200 day simple moving average is $99.96.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewSquare Capital LLC bought a new stake in shares of Merit Medical Systems during the fourth quarter worth about $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Merit Medical Systems during the fourth quarter worth about $52,000. Federated Hermes Inc. increased its position in shares of Merit Medical Systems by 139.1% during the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after acquiring an additional 381 shares in the last quarter. Group One Trading LLC bought a new stake in shares of Merit Medical Systems during the fourth quarter worth about $77,000. Finally, Farther Finance Advisors LLC increased its position in shares of Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after acquiring an additional 260 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

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.