Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $54.00

Merit Medical Systems (NASDAQ:MMSI) had its price target hoisted by Barrington Research from $49.00 to $54.00 in a report published on Thursday morning, The Fly reports. The firm currently has an outperform rating on the medical instruments supplier’s stock.

MMSI has been the subject of several other research reports. Sidoti increased their target price on shares of Merit Medical Systems from $55.00 to $63.00 and gave the stock a buy rating in a report on Monday, June 1st. Wells Fargo & Co increased their price target on shares of Merit Medical Systems from $33.00 to $37.00 and gave the company an underweight rating in a research note on Friday, April 24th. Piper Sandler increased their price target on shares of Merit Medical Systems from $50.00 to $55.00 and gave the company an overweight rating in a research note on Thursday. ValuEngine cut shares of Merit Medical Systems from a buy rating to a hold rating in a research note on Thursday, April 2nd. Finally, Oppenheimer reiterated a buy rating and issued a $46.00 price target on shares of Merit Medical Systems in a research note on Friday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Merit Medical Systems has a consensus rating of Buy and an average price target of $46.00.

MMSI traded down $1.82 during trading hours on Thursday, hitting $44.72. 465,374 shares of the company’s stock were exchanged, compared to its average volume of 363,916. Merit Medical Systems has a 1-year low of $19.50 and a 1-year high of $47.99. The stock’s 50-day moving average is $43.70 and its two-hundred day moving average is $39.22. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -82.81, a PEG ratio of 3.62 and a beta of 1.13. The company has a quick ratio of 1.42, a current ratio of 2.56 and a debt-to-equity ratio of 0.51.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, July 29th. The medical instruments supplier reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.24. Merit Medical Systems had a negative net margin of 3.10% and a positive return on equity of 8.10%. The business had revenue of $218.37 million during the quarter, compared to analysts’ expectations of $192.67 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue was down 14.5% on a year-over-year basis. On average, equities research analysts anticipate that Merit Medical Systems will post 1.12 EPS for the current year.

In other news, CEO Fred P. Lampropoulos sold 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $44.00, for a total value of $220,000.00. Following the transaction, the chief executive officer now directly owns 967,916 shares of the company’s stock, valued at $42,588,304. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Ming-Teh Liu sold 13,800 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $45.00, for a total transaction of $621,000.00. Following the completion of the transaction, the director now directly owns 6,300 shares in the company, valued at $283,500. The disclosure for this sale can be found here. Insiders sold 23,800 shares of company stock worth $1,061,600 over the last three months. Insiders own 4.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MMSI. Quadrant Capital Group LLC increased its position in Merit Medical Systems by 1,878.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,088 shares of the medical instruments supplier’s stock worth $33,000 after acquiring an additional 1,033 shares during the period. Versant Capital Management Inc increased its position in Merit Medical Systems by 5,416.0% during the first quarter. Versant Capital Management Inc now owns 1,379 shares of the medical instruments supplier’s stock worth $43,000 after acquiring an additional 1,354 shares during the period. Advisor Group Holdings Inc. bought a new position in Merit Medical Systems during the first quarter worth about $60,000. Strs Ohio bought a new position in Merit Medical Systems during the first quarter worth about $65,000. Finally, Mutual of America Capital Management LLC increased its position in Merit Medical Systems by 21.0% during the first quarter. Mutual of America Capital Management LLC now owns 2,373 shares of the medical instruments supplier’s stock worth $74,000 after acquiring an additional 412 shares during the period. 97.49% 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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