Oppenheimer Raises Merit Medical Systems (NASDAQ:MMSI) Price Target to $50.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective upped by Oppenheimer from $46.00 to $50.00 in a research report released on Thursday, BenzingaRatingsTable reports. Oppenheimer currently has an outperform rating on the medical instruments supplier’s stock.

Several other research firms have also weighed in on MMSI. Needham & Company LLC reissued a hold rating on shares of Merit Medical Systems in a research note on Thursday. ValuEngine lowered shares of Merit Medical Systems from a buy rating to a hold rating in a research note on Thursday, April 2nd. Barrington Research lifted their price objective on shares of Merit Medical Systems from $49.00 to $54.00 and gave the stock an outperform rating in a research note on Thursday. Raymond James lifted their price target on shares of Merit Medical Systems from $49.00 to $51.00 and gave the company an outperform rating in a research note on Thursday. Finally, Wells Fargo & Co lifted 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $46.00.

Merit Medical Systems stock traded down $1.82 during midday trading on Thursday, hitting $44.72. 465,374 shares of the stock were exchanged, compared to its average volume of 363,916. The company has a fifty day simple moving average of $43.70 and a two-hundred day simple moving average of $39.22. Merit Medical Systems has a 52 week low of $19.50 and a 52 week high of $47.99. The stock has a market capitalization of $2.48 billion, a PE ratio of -82.81, a P/E/G 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 released its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported $0.31 earnings per share for the quarter, topping the 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 for the quarter, compared to analyst estimates of $192.67 million. During the same quarter last year, the firm earned $0.42 EPS. Merit Medical Systems’s quarterly revenue was down 14.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Merit Medical Systems will post 1.12 EPS for the current fiscal year.

In related news, Director David Ming-Teh Liu sold 13,800 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.00, for a total transaction of $621,000.00. Following the transaction, the director now directly owns 6,300 shares in the company, valued at $283,500. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Fred P. Lampropoulos sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $44.00, for a total transaction of $220,000.00. Following the transaction, the chief executive officer now owns 967,916 shares in the company, valued at $42,588,304. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,800 shares of company stock worth $1,061,600. 4.70% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in MMSI. Rhumbline Advisers grew its stake in Merit Medical Systems by 0.8% during the first quarter. Rhumbline Advisers now owns 178,060 shares of the medical instruments supplier’s stock worth $5,564,000 after buying an additional 1,377 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Merit Medical Systems by 21.0% in the first quarter. Mutual of America Capital Management LLC now owns 2,373 shares of the medical instruments supplier’s stock valued at $74,000 after acquiring an additional 412 shares during the last quarter. State Street Corp increased its stake in Merit Medical Systems by 5.1% in the first quarter. State Street Corp now owns 2,057,843 shares of the medical instruments supplier’s stock valued at $64,308,000 after acquiring an additional 100,151 shares during the last quarter. Geode Capital Management LLC increased its stake in Merit Medical Systems by 7.4% in the first quarter. Geode Capital Management LLC now owns 798,440 shares of the medical instruments supplier’s stock valued at $24,951,000 after acquiring an additional 55,320 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Merit Medical Systems by 1.8% in the first quarter. Invesco Ltd. now owns 344,755 shares of the medical instruments supplier’s stock valued at $10,774,000 after acquiring an additional 6,262 shares during the last quarter. Hedge funds and other institutional investors own 97.49% of the company’s stock.

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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