Merit Medical Systems (NASDAQ:MMSI) PT Raised to $103.00 at Wells Fargo & Company

Merit Medical Systems (NASDAQ:MMSI) had its target price increased by equities research analysts at Wells Fargo & Company from $85.00 to $103.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 4.56% from the company’s current price.

Other research analysts have also issued reports about the company. Canaccord Genuity Group boosted their target price on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Baird R W raised Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Merit Medical Systems in a report on Tuesday, July 16th. Finally, Robert W. Baird began coverage on Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective on the stock. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.55.

Merit Medical Systems Trading Down 1.1 %

NASDAQ MMSI opened at $98.51 on Monday. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 56.61, a PEG ratio of 2.53 and a beta of 0.87. The stock’s 50 day moving average price is $90.97 and its two-hundred day moving average price is $82.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. Merit Medical Systems has a 52 week low of $62.58 and a 52 week high of $100.32.

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

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in MMSI. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the second quarter valued at about $29,000. Parallel Advisors LLC increased its stake in shares of Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 212 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Merit Medical Systems in the first quarter valued at about $44,000. Headlands Technologies LLC acquired a new stake in shares of Merit Medical Systems in the first quarter valued at about $50,000. Finally, EntryPoint Capital LLC increased its stake in shares of Merit Medical Systems by 2,666.7% in the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 880 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

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.