Merit Medical Systems (NASDAQ:MMSI) PT Raised to $103.00 at Bank of America

Merit Medical Systems (NASDAQ:MMSI) had its target price increased by Bank of America from $92.00 to $103.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the medical instruments supplier’s stock.

A number of other brokerages have also weighed in on MMSI. Barrington Research reaffirmed an outperform rating and issued a $100.00 price target on shares of Merit Medical Systems in a research note on Tuesday, July 16th. Needham & Company LLC upped their target price on shares of Merit Medical Systems from $94.00 to $105.00 and gave the stock a buy rating in a research note on Wednesday, August 28th. Piper Sandler restated an overweight rating and issued a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. StockNews.com upgraded Merit Medical Systems from a hold rating to a buy rating in a report on Monday, August 5th. Finally, Baird R W upgraded Merit Medical Systems to a strong-buy rating in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Merit Medical Systems has a consensus rating of Moderate Buy and a consensus price target of $100.55.

Merit Medical Systems Price Performance

Shares of MMSI stock opened at $99.64 on Monday. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $100.10. The firm has a fifty day moving average of $90.72 and a 200-day moving average of $82.55. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 57.26, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last announced 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. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The company had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. On average, equities research analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current year.

Insider Buying and Selling

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the sale, the director now owns 32,391 shares in the company, valued at $2,753,235. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Merit Medical Systems by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after buying an additional 41,065 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Merit Medical Systems by 17.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,684 shares of the medical instruments supplier’s stock worth $280,000 after acquiring an additional 552 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Merit Medical Systems by 60.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,126 shares of the medical instruments supplier’s stock valued at $161,000 after acquiring an additional 803 shares during the period. Norges Bank acquired a new stake in Merit Medical Systems during the 4th quarter valued at $38,165,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Merit Medical Systems during the fourth quarter worth $334,000. 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.