Merit Medical Systems (NASDAQ:MMSI) PT Raised to $103.00 at Bank of America

Merit Medical Systems (NASDAQ:MMSI) had its price target lifted by equities research analysts at Bank of America from $92.00 to $103.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. Bank of America‘s price target would suggest a potential upside of 4.56% from the stock’s previous close.

A number of other research firms have also recently issued reports on MMSI. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a research report on Friday, June 28th. Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, Robert W. Baird started coverage on Merit Medical Systems in a research report on Friday, June 28th. They set an “outperform” rating and a $96.00 price objective on the stock. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $100.55.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI opened at $98.51 on Monday. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $90.97 and its two-hundred day moving average is $82.71. The company has a market cap of $5.72 billion, a P/E ratio of 56.61, a P/E/G ratio of 2.53 and a beta of 0.87. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $100.32.

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

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of the 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 completion of the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Merit Medical Systems

A number of hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC lifted its holdings in Merit Medical Systems by 0.3% during the 2nd quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock worth $262,445,000 after purchasing an additional 10,512 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Merit Medical Systems by 3.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock worth $193,419,000 after purchasing an additional 75,885 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Merit Medical Systems by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after purchasing an additional 41,065 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in Merit Medical Systems by 17.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after purchasing an additional 131,977 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Merit Medical Systems by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock worth $63,543,000 after purchasing an additional 22,077 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

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.