Brokerages Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Target Price at $93.00

Merit Medical Systems, Inc. (NASDAQ:MMSI) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $92.50.

MMSI has been the topic of a number of research reports. CL King started coverage on Merit Medical Systems in a research note on Thursday, April 11th. They set a “buy” rating and a $88.00 price target on the stock. Canaccord Genuity Group lifted their target price on shares of Merit Medical Systems from $102.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, February 29th. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Needham & Company LLC reissued a “buy” rating and set a $88.00 price objective on shares of Merit Medical Systems in a research report on Thursday, April 11th. Finally, Oppenheimer lifted their price objective on shares of Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th.

Merit Medical Systems Trading Up 1.1 %

NASDAQ MMSI opened at $72.75 on Wednesday. The firm’s fifty day moving average price is $75.53 and its 200 day moving average price is $73.50. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $85.62. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.45 and a quick ratio of 3.95. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 44.91, a price-to-earnings-growth ratio of 2.02 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.04. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The company had revenue of $324.52 million during the quarter, compared to the consensus estimate of $320.66 million. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Merit Medical Systems’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the sale, the chief financial officer now owns 12,007 shares of the company’s stock, valued at $887,917.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Merit Medical Systems news, Director F. Ann Millner sold 20,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the completion of the transaction, the director now owns 29,960 shares in the company, valued at $2,396,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Raul Jr. Parra sold 6,480 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,637 shares of company stock worth $5,351,673. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Merit Medical Systems

A number of large investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new position in Merit Medical Systems during the fourth quarter worth about $26,000. State of Wyoming purchased a new stake in shares of Merit Medical Systems during the 2nd quarter worth approximately $28,000. Valued Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter worth approximately $29,000. Parallel Advisors LLC grew its holdings in shares of Merit Medical Systems by 114.6% in 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 during the period. Finally, Belpointe Asset Management LLC increased its stake in Merit Medical Systems by 53.8% in the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 175 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.