Merit Medical Systems, Inc. (NASDAQ:MMSI) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Merit Medical Systems, Inc. (NASDAQ:MMSI) has received a consensus recommendation of “Buy” from eight brokerages, with an average twelve-month target price of $107.50.
• In recent trading, shares opened at $82.69 and the company reported a quarterly EPS of $1.01, exceeding estimates of $0.85 with revenues of $382.46 million.
• Insider selling occurred when Director Lynne N. Ward sold 3,000 shares, reducing her stake by 18.98%, highlighting potential caution among insiders regarding the stock's future performance.

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) have been given a consensus recommendation of "Buy" by the eight brokerages that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $107.50.

A number of brokerages recently issued reports on MMSI. Wells Fargo & Company reduced their price target on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Piper Sandler decreased their target price on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, July 18th. Raymond James Financial reduced their price objective on shares of Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Barrington Research restated an "outperform" rating and issued a $103.00 price objective on shares of Merit Medical Systems in a report on Thursday, July 31st.

Insider Buying and Selling

In other news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $88.56, for a total value of $265,680.00. Following the completion of the transaction, the director owned 12,809 shares of the company's stock, valued at approximately $1,134,365.04. This represents a 18.98% decrease in their position. 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 company insiders.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors have recently added to or reduced their stakes in MMSI. Cetera Investment Advisers lifted its position in Merit Medical Systems by 8.7% during the fourth quarter. Cetera Investment Advisers now owns 10,093 shares of the medical instruments supplier's stock valued at $976,000 after buying an additional 804 shares during the period. Group One Trading LLC purchased a new position in Merit Medical Systems during the 4th quarter valued at about $77,000. Lazard Asset Management LLC boosted its stake in Merit Medical Systems by 332.7% during the fourth quarter. Lazard Asset Management LLC now owns 4,682 shares of the medical instruments supplier's stock worth $452,000 after acquiring an additional 3,600 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Merit Medical Systems by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,531 shares of the medical instruments supplier's stock worth $3,437,000 after purchasing an additional 1,218 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of Merit Medical Systems by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 17,267 shares of the medical instruments supplier's stock valued at $1,670,000 after purchasing an additional 5,308 shares in the last quarter. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Trading Down 0.3%

NASDAQ:MMSI opened at $82.69 on Wednesday. The firm has a market capitalization of $4.90 billion, a P/E ratio of 41.97, a P/E/G ratio of 2.79 and a beta of 0.64. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $87.44 and a 200 day moving average of $93.08. Merit Medical Systems has a 52 week low of $81.04 and a 52 week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.16. The firm had revenue of $382.46 million for the quarter, compared to analysts' expectations of $372.47 million. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 earnings per share. On average, research analysts predict that Merit Medical Systems will post 3.37 earnings per share for the current 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.

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