Merit Medical Systems, Inc. (MMSI) Receives $67.88 Average Price Target from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been given a consensus recommendation of “Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $67.22.

A number of equities research analysts recently issued reports on MMSI shares. BidaskClub downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 5th. Zacks Investment Research downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. ValuEngine downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Merit Medical Systems in a research note on Thursday, April 25th.

Merit Medical Systems stock opened at $56.86 on Tuesday. The firm has a market cap of $3.00 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.40 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.25 and a debt-to-equity ratio of 0.39. Merit Medical Systems has a 52-week low of $47.30 and a 52-week high of $66.34.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Tuesday, April 23rd. The medical instruments supplier reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. The company had revenue of $238.35 million for the quarter, compared to the consensus estimate of $236.53 million. Merit Medical Systems had a net margin of 4.68% and a return on equity of 10.99%. Merit Medical Systems’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share. On average, equities research analysts predict that Merit Medical Systems will post 2.01 earnings per share for the current fiscal year.

In other news, Director Kent W. Stanger sold 1,216 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $60.54, for a total value of $73,616.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael E. Stillabower sold 10,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.05, for a total transaction of $580,500.00. Following the completion of the sale, the director now directly owns 63,618 shares in the company, valued at approximately $3,693,024.90. The disclosure for this sale can be found here. In the last three months, insiders sold 41,216 shares of company stock worth $2,465,617. Insiders own 5.16% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MMSI. Bank of New York Mellon Corp grew its holdings in shares of Merit Medical Systems by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 826,975 shares of the medical instruments supplier’s stock worth $50,816,000 after purchasing an additional 47,176 shares during the last quarter. LPL Financial LLC bought a new position in shares of Merit Medical Systems in the third quarter worth about $1,020,000. MetLife Investment Advisors LLC grew its holdings in shares of Merit Medical Systems by 58.3% in the third quarter. MetLife Investment Advisors LLC now owns 36,890 shares of the medical instruments supplier’s stock worth $2,267,000 after purchasing an additional 13,580 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Merit Medical Systems by 13.7% in the third quarter. Teachers Advisors LLC now owns 137,761 shares of the medical instruments supplier’s stock worth $8,465,000 after purchasing an additional 16,577 shares during the last quarter. Finally, Sawgrass Asset Management LLC grew its holdings in shares of Merit Medical Systems by 13.4% in the third quarter. Sawgrass Asset Management LLC now owns 35,840 shares of the medical instruments supplier’s stock worth $2,202,000 after purchasing an additional 4,245 shares during the last quarter. 98.23% of the stock is currently owned by institutional investors and hedge funds.

About Merit Medical Systems

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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