Recent Research Analysts’ Ratings Changes for Merit Medical Systems (MMSI)

A number of research firms have changed their ratings and price targets for Merit Medical Systems (NASDAQ: MMSI):

• 7/5/2024 – Merit Medical Systems was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/2/2024 – Merit Medical Systems had its “outperform” rating reaffirmed by analysts at Barrington Research. They now have a $100.00 price target on the stock.
• 7/2/2024 – Merit Medical Systems had its price target raised by analysts at Canaccord Genuity Group Inc. from $102.00 to $125.00. They now have a “buy” rating on the stock.
• 7/1/2024 – Merit Medical Systems had its price target raised by analysts at Needham & Company LLC from $85.00 to $93.00. They now have a “buy” rating on the stock.
• 6/28/2024 – Merit Medical Systems was upgraded by analysts at Baird R W to a “strong-buy” rating.
• 6/28/2024 – Merit Medical Systems is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $96.00 price target on the stock.
• 6/27/2024 – Merit Medical Systems was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Merit Medical Systems Trading Down 0.8 %

MMSI opened at $85.85 on Friday. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 2.44 and a beta of 0.88. The company’s 50 day simple moving average is $81.58 and its two-hundred day simple moving average is $77.96. Merit Medical Systems, Inc. has a 1-year low of $62.58 and a 1-year high of $87.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data 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. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The firm had revenue of $323.51 million for the quarter, compared to the consensus estimate of $315.57 million. During the same quarter last year, the business posted $0.64 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Merit Medical Systems, Inc. will post 3.27 EPS for the current fiscal year.

Insider Activity

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $81.85, for a total transaction of $613,875.00. Following the transaction, the chief operating officer now directly owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Neil Peterson sold 7,500 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now owns 14,819 shares of the company’s stock, valued at approximately $1,212,935.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director F. Ann Millner sold 12,500 shares of the firm’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 disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

A number of hedge funds have recently modified their holdings of the business. Valued Wealth Advisors LLC acquired a new position in Merit Medical Systems in the fourth quarter valued at about $29,000. Parallel Advisors LLC lifted 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 last quarter. Tompkins Financial Corp acquired a new position in shares of Merit Medical Systems in the 4th quarter worth approximately $38,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Merit Medical Systems during the 1st quarter worth approximately $44,000. Finally, Headlands Technologies LLC acquired a new stake in Merit Medical Systems in the 1st quarter valued at approximately $50,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

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.