Merit Medical Systems (NASDAQ:MMSI) Given New $127.00 Price Target at Canaccord Genuity Group

Merit Medical Systems (NASDAQ:MMSI) had its price objective decreased by Canaccord Genuity Group from $128.00 to $127.00 in a report issued on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities analysts have also commented on MMSI. Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Wells Fargo & Company reduced their price objective on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday. 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 note on Tuesday, December 31st. Finally, Barrington Research increased their price objective on shares of Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.40.

Merit Medical Systems Price Performance

NASDAQ:MMSI opened at $100.45 on Wednesday. Merit Medical Systems has a 52 week low of $70.70 and a 52 week high of $111.45. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 49.24, a P/E/G ratio of 2.34 and a beta of 0.87. The firm’s 50-day simple moving average is $102.79 and its 200 day simple moving average is $99.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds have recently made changes to their positions in the stock. NewSquare Capital LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter valued at approximately $52,000. Federated Hermes Inc. boosted its stake in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after purchasing an additional 381 shares in the last quarter. Group One Trading LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $77,000. Finally, Farther Finance Advisors LLC boosted its position in Merit Medical Systems by 32.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after buying an additional 260 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

About Merit Medical Systems

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.