Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $114.00

Merit Medical Systems (NASDAQ:MMSI) had its price target increased by Piper Sandler from $110.00 to $114.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

Several other equities research analysts have also issued reports on the stock. Raymond James increased their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Robert W. Baird boosted their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Barrington Research reiterated an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research note on Monday, December 23rd. Finally, Wells Fargo & Company raised Merit Medical Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $103.00 to $120.00 in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $108.10.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $103.67 on Tuesday. The business’s fifty day moving average price is $101.04 and its 200 day moving average price is $96.34. Merit Medical Systems has a twelve month low of $70.70 and a twelve month high of $108.07. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $6.04 billion, a P/E ratio of 50.82, a PEG ratio of 2.34 and a beta of 0.85.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. During the same period last year, the business posted $0.75 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Merit Medical Systems will post 3.36 earnings per share for the current year.

Insider Buying and Selling at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the completion of the sale, the chief financial officer now owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the completion of the sale, the director now owns 32,391 shares in the company, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. KBC Group NV raised its position in shares of Merit Medical Systems by 42.8% during the 4th quarter. KBC Group NV now owns 2,265 shares of the medical instruments supplier’s stock valued at $219,000 after acquiring an additional 679 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Merit Medical Systems by 4.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 18,314 shares of the medical instruments supplier’s stock worth $1,771,000 after purchasing an additional 751 shares during the period. Whalen Wealth Management Inc. acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth $247,000. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Merit Medical Systems by 8.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 195,140 shares of the medical instruments supplier’s stock worth $18,874,000 after buying an additional 14,990 shares during the last quarter. Finally, AMI Asset Management Corp boosted its holdings in shares of Merit Medical Systems by 28.7% in the 4th quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier’s stock valued at $3,196,000 after buying an additional 7,367 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.