Merit Medical Systems (NASDAQ:MMSI) PT Raised to $125.00 at Canaccord Genuity Group

Merit Medical Systems (NASDAQ:MMSI) had its price target boosted by research analysts at Canaccord Genuity Group from $102.00 to $125.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 45.60% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. Piper Sandler increased their price objective on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Needham & Company LLC boosted their price target on shares of Merit Medical Systems from $85.00 to $93.00 and gave the company a “buy” rating in a research report on Monday. Finally, Barrington Research lifted their target price on shares of Merit Medical Systems from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of “Buy” and an average price target of $96.20.

Merit Medical Systems Trading Down 0.8 %

Shares of NASDAQ MMSI opened at $85.85 on Tuesday. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 2.40 and a beta of 0.88. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $87.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. The business’s 50 day moving average price is $81.33 and its 200-day moving average price is $77.91.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $323.51 million for the quarter, compared to analyst estimates of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. On average, sell-side analysts expect that Merit Medical Systems will post 3.27 earnings per share for the current year.

Insider Activity

In related news, COO Neil Peterson sold 7,500 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the completion of the transaction, the chief operating officer now directly owns 14,819 shares in the company, valued at approximately $1,212,935.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $81.85, for a total value of $613,875.00. Following the completion of the transaction, the chief operating officer now owns 14,819 shares in the company, valued at $1,212,935.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the sale, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

Several hedge funds have recently added to or reduced their stakes in MMSI. Valued Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter valued at $29,000. Parallel Advisors LLC lifted its holdings in 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 buying an additional 212 shares during the last quarter. Tompkins Financial Corp acquired a new position in shares of Merit Medical Systems during the 4th quarter worth about $38,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Merit Medical Systems in the 1st quarter valued at about $44,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Merit Medical Systems during the 1st quarter worth about $50,000. Institutional investors and hedge funds 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.