Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $114.00

Merit Medical Systems (NASDAQ:MMSI) had its price target lifted by equities researchers at Piper Sandler from $110.00 to $114.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical instruments supplier’s stock. Piper Sandler’s price objective suggests a potential upside of 10.79% from the stock’s current price.

Several other research firms also recently issued reports on MMSI. Robert W. Baird lifted their price target on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Barrington Research reaffirmed an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research note on Monday, December 23rd. Wells Fargo & Company upgraded shares of Merit Medical Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $120.00 in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group increased their target price on shares of Merit Medical Systems from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.10.

Merit Medical Systems Trading Up 0.8 %

NASDAQ:MMSI opened at $102.90 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The business’s 50-day simple moving average is $100.98 and its 200-day simple moving average is $96.15. Merit Medical Systems has a fifty-two week low of $70.70 and a fifty-two week high of $108.07. The stock has a market capitalization of $6.00 billion, a PE ratio of 50.44, a price-to-earnings-growth ratio of 2.30 and a beta of 0.85.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The firm had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Insider Activity

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the completion of the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at $3,289,306.05. The trade was a 27.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the completion of the transaction, the chief financial officer now directly owns 16,361 shares in the company, valued at $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MMSI. Barclays PLC increased its stake in shares of Merit Medical Systems by 305.4% during the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock worth $11,142,000 after purchasing an additional 84,923 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Merit Medical Systems during the third quarter worth $718,000. Fisher Asset Management LLC boosted its position in shares of Merit Medical Systems by 3.2% in the third quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock valued at $21,910,000 after acquiring an additional 6,837 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Merit Medical Systems by 85.6% in the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock valued at $56,921,000 after acquiring an additional 265,648 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after acquiring an additional 260 shares during the period. 99.66% of the stock is owned by institutional investors.

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.