Wells Fargo & Company Cuts Merit Medical Systems (NASDAQ:MMSI) Price Target to $117.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective decreased by research analysts at Wells Fargo & Company from $120.00 to $117.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price target points to a potential upside of 18.76% from the stock’s current price.

A number of other research analysts have also recently weighed in on MMSI. Needham & Company LLC lowered their price objective on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Canaccord Genuity Group boosted their price target on Merit Medical Systems from $127.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Raymond James boosted their price target on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.40.

Merit Medical Systems Trading Down 1.9 %

Shares of NASDAQ:MMSI opened at $98.52 on Wednesday. Merit Medical Systems has a 52-week low of $70.70 and a 52-week high of $111.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 48.29, a PEG ratio of 2.34 and a beta of 0.87. The stock’s 50-day simple moving average is $102.83 and its two-hundred day simple moving average is $99.88.

Institutional Trading of Merit Medical Systems

Large investors have recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new position in shares of Merit Medical Systems during the 4th quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new position in Merit Medical Systems in the 4th quarter valued at $52,000. Federated Hermes Inc. grew its position in Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after acquiring an additional 381 shares during the last quarter. Group One Trading LLC purchased a new stake in shares of Merit Medical Systems in the 4th quarter worth $77,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Merit Medical Systems by 32.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

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.