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

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $101.82.

MMSI has been the topic of a number of analyst reports. Robert W. Baird initiated 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. Bank of America lifted 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 report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price target on shares of Merit Medical Systems 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. Finally, Barrington Research upped their target price on Merit Medical Systems from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, September 20th.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds have recently modified their holdings of the company. Congress Asset Management Co. MA lifted its stake in shares of Merit Medical Systems by 4,411.3% during the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after buying an additional 506,992 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Merit Medical Systems by 147.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock worth $54,545,000 after purchasing an additional 377,851 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Merit Medical Systems by 818.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock worth $21,151,000 after purchasing an additional 248,140 shares during the last quarter. F M Investments LLC purchased a new stake in shares of Merit Medical Systems in the second quarter valued at $12,550,000. Finally, Westwood Holdings Group Inc. increased its stake in Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after purchasing an additional 131,977 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Price Performance

Shares of MMSI opened at $95.63 on Wednesday. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $101.60. The stock’s 50 day moving average is $94.08 and its two-hundred day moving average is $84.76. The firm has a market capitalization of $5.56 billion, a PE ratio of 54.96, a P/E/G ratio of 2.52 and a beta of 0.87. 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 announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $334.94 million. Research analysts anticipate that Merit Medical Systems will post 3.31 earnings per share for the current year.

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.