Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $107.78 Average Target Price from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has earned an average rating of “Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $108.67.

MMSI has been the topic of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a research note on Friday, March 28th. They issued an “overweight” rating and a $120.00 target price on the stock. Barrington Research lowered their price objective on Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Needham & Company LLC raised their price objective on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Piper Sandler decreased their target price on shares of Merit Medical Systems from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Robert W. Baird dropped their price target on shares of Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th.

Insider Buying and Selling at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the sale, the chief financial officer now owns 24,201 shares in the company, valued at approximately $2,391,300.81. The trade was a 33.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director F. Ann Millner sold 21,250 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $96.47, for a total value of $2,049,987.50. Following the transaction, the director now directly owns 34,543 shares in the company, valued at approximately $3,332,363.21. This trade represents a 38.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,382 shares of company stock worth $13,189,508 over the last three months. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

Large investors have recently bought and sold shares of the company. SageView Advisory Group LLC lifted its holdings in Merit Medical Systems by 3.1% in the first quarter. SageView Advisory Group LLC now owns 5,065 shares of the medical instruments supplier’s stock valued at $535,000 after acquiring an additional 153 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Merit Medical Systems in the 1st quarter valued at about $41,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Merit Medical Systems by 73.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 286,943 shares of the medical instruments supplier’s stock valued at $30,333,000 after purchasing an additional 121,599 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Merit Medical Systems in the first quarter valued at about $408,000. Finally, Fred Alger Management LLC boosted its holdings in Merit Medical Systems by 22.9% during the first quarter. Fred Alger Management LLC now owns 154,707 shares of the medical instruments supplier’s stock worth $16,354,000 after buying an additional 28,793 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $98.10 on Thursday. Merit Medical Systems has a fifty-two week low of $80.02 and a fifty-two week high of $111.45. The company has a market cap of $5.80 billion, a PE ratio of 48.09, a P/E/G ratio of 2.34 and a beta of 0.70. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The business has a 50-day simple moving average of $96.74 and a two-hundred day simple moving average of $100.60.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $355.35 million during the quarter, compared to analysts’ expectations of $352.57 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that Merit Medical Systems will post 3.37 EPS for the current fiscal 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.