Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $103.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective boosted by Bank of America from $92.00 to $103.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the medical instruments supplier’s stock.

MMSI has been the topic of several other research reports. Barrington Research restated an outperform rating and issued a $100.00 price target on shares of Merit Medical Systems in a research report on Tuesday, July 16th. StockNews.com upgraded Merit Medical Systems from a hold rating to a buy rating in a research report on Monday, August 5th. Piper Sandler restated an overweight rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird assumed coverage on Merit Medical Systems in a report on Friday, June 28th. They issued an outperform rating and a $96.00 price objective on the stock. Finally, Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the company a buy rating in a report on Tuesday, July 2nd. Three research 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. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $100.55.

Merit Medical Systems Stock Up 0.2 %

MMSI opened at $98.71 on Monday. The stock has a market capitalization of $5.74 billion, a P/E ratio of 56.73, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. Merit Medical Systems has a one year low of $62.58 and a one year high of $100.32. The business’s 50-day simple moving average is $91.20 and its 200-day simple moving average is $82.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. The firm had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. Analysts anticipate that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Transactions at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the sale, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several institutional investors have recently modified their holdings of MMSI. Opal Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems during the 2nd quarter worth approximately $29,000. Parallel Advisors LLC boosted its stake in shares of Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 212 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Merit Medical Systems during the 1st quarter worth approximately $44,000. Headlands Technologies LLC purchased a new stake in Merit Medical Systems in the 1st quarter valued at approximately $50,000. Finally, EntryPoint Capital LLC lifted its stake in Merit Medical Systems by 2,666.7% in the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 880 shares in the last quarter. Hedge funds and other institutional investors 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.