Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $92.78 Average Price Target from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $92.78.

Several equities analysts have weighed in on the company. Needham & Company LLC reduced their price objective on Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Canaccord Genuity Group dropped their price objective on Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Piper Sandler upped their price objective on shares of Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Oppenheimer boosted their price objective on shares of Merit Medical Systems from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Barrington Research increased their price target on shares of Merit Medical Systems from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $80.44 on Friday. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $74.18 and its 200-day moving average price is $74.43. The firm has a market capitalization of $4.67 billion, a P/E ratio of 46.23, a P/E/G ratio of 2.20 and a beta of 0.91. Merit Medical Systems has a 1-year low of $62.58 and a 1-year high of $85.62.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. The company had revenue of $323.51 million during the quarter, compared to the consensus estimate of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Equities research analysts anticipate that Merit Medical Systems will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In related news, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the completion of the sale, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction on Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the sale, the director now directly owns 19,257 shares in the company, valued at approximately $1,464,109.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Wright sold 25,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the transaction, the insider now directly owns 42,223 shares of the company’s stock, valued at approximately $3,195,436.64. The disclosure for this sale can be found here. Insiders have sold a total of 49,637 shares of company stock valued at $3,751,673 over the last ninety days. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Merit Medical Systems

Institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC raised its position in Merit Medical Systems by 15.4% during the third quarter. William Blair Investment Management LLC now owns 3,895,695 shares of the medical instruments supplier’s stock valued at $268,881,000 after purchasing an additional 520,423 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Merit Medical Systems by 1.0% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,174,483 shares of the medical instruments supplier’s stock worth $164,717,000 after acquiring an additional 22,545 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Merit Medical Systems by 1.2% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,388,905 shares of the medical instruments supplier’s stock worth $95,862,000 after purchasing an additional 16,488 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Merit Medical Systems by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after purchasing an additional 41,065 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in Merit Medical Systems by 25.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,031,173 shares of the medical instruments supplier’s stock valued at $71,172,000 after purchasing an additional 212,256 shares during the last quarter. Institutional investors 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.