Brokerages Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Price Target at $101.82

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $103.36.

MMSI has been the topic of several research analyst reports. Bank of America boosted their price target on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Wells Fargo & Company raised their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Robert W. Baird boosted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Barrington Research reissued an “outperform” rating and issued a $114.00 price objective on shares of Merit Medical Systems in a research note on Thursday.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in Merit Medical Systems by 147.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after acquiring an additional 377,851 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Merit Medical Systems in the third quarter valued at $21,156,000. Handelsbanken Fonder AB lifted its position in Merit Medical Systems by 1,343.5% during the third quarter. Handelsbanken Fonder AB now owns 192,109 shares of the medical instruments supplier’s stock worth $18,986,000 after buying an additional 178,800 shares during the period. F M Investments LLC acquired a new stake in Merit Medical Systems in the 2nd quarter worth about $12,550,000. Finally, Westwood Holdings Group Inc. grew its holdings in Merit Medical Systems by 17.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after buying an additional 131,977 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Trading Up 4.0 %

NASDAQ:MMSI opened at $98.66 on Friday. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 48.36, 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. The stock has a fifty day moving average price of $96.49 and a two-hundred day moving average price of $87.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 EPS. As a group, sell-side analysts anticipate that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

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.