Merit Medical Systems (NASDAQ:MMSI) Upgraded at StockNews.com

StockNews.com upgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a hold rating to a buy rating in a report published on Saturday.

Several other research analysts have also weighed in on MMSI. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Robert W. Baird initiated coverage on Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective for the company. Canaccord Genuity Group upped their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Barrington Research reiterated an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research report on Friday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $105.00 price target on shares of Merit Medical Systems in a research report on Monday, September 16th. Two research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.82.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $95.31 on Friday. The firm has a 50-day moving average of $96.11 and a two-hundred day moving average of $87.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. The stock has a market cap of $5.54 billion, a P/E ratio of 55.34, a PEG ratio of 2.41 and a beta of 0.87. Merit Medical Systems has a 1-year low of $65.46 and a 1-year high of $101.60.

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, beating analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The firm had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. On average, research analysts expect that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Merit Medical Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC bought a new stake in Merit Medical Systems in the 2nd quarter valued at about $29,000. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems in the 1st quarter valued at approximately $44,000. Headlands Technologies LLC bought a new stake in Merit Medical Systems during the 1st quarter valued at $50,000. USA Financial Formulas bought a new position in shares of Merit Medical Systems in the third quarter worth $59,000. Finally, EntryPoint Capital LLC increased its holdings in shares of Merit Medical Systems by 2,666.7% during the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after purchasing an additional 880 shares during the period. 99.66% of the stock is currently owned by institutional investors.

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.