Analysts Set Merit Medical Systems, Inc. (NASDAQ:MMSI) PT at $107.00

Key Points

• Merit Medical Systems, Inc. has received a consensus rating of "Moderate Buy" from analysts, with eight out of nine recommending a buy.
• The company's stock, currently trading at $89.45, has seen a 12-month price target average of $107.00 from brokers.
• Merit Medical reported a 13.2% year-over-year increase in revenue, with earnings per share surpassing consensus estimates by $0.16.

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $107.00.

A number of equities analysts have commented on MMSI shares. Wells Fargo & Company cut their price objective on shares of Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Canaccord Genuity Group set a $112.00 price objective on shares of Merit Medical Systems and gave the stock a "buy" rating in a report on Wednesday, May 21st. Barrington Research reiterated an "outperform" rating and issued a $103.00 price objective on shares of Merit Medical Systems in a report on Thursday, July 31st. Piper Sandler dropped their target price on shares of Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Finally, Raymond James Financial dropped their target price on shares of Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st.

Insider Buying and Selling

In other news, CEO Fred P. Lampropoulos sold 400 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $95.61, for a total value of $38,244.00. Following the completion of the sale, the chief executive officer owned 1,045,628 shares of the company's stock, valued at approximately $99,972,493.08. The trade was a 0.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Mcdonnell sold 1,750 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $94.51, for a total transaction of $165,392.50. Following the completion of the sale, the director directly owned 6,395 shares of the company's stock, valued at $604,391.45. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,779 shares of company stock worth $4,662,863. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of MMSI. Maseco LLP bought a new stake in shares of Merit Medical Systems in the 2nd quarter worth about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter valued at about $31,000. IFP Advisors Inc grew its position in shares of Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock valued at $32,000 after buying an additional 287 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Merit Medical Systems by 55.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier's stock valued at $35,000 after buying an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock valued at $39,000 after buying an additional 200 shares during the last quarter. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Down 0.8%

MMSI stock traded down $0.74 during trading on Friday, reaching $90.05. The stock had a trading volume of 507,143 shares, compared to its average volume of 541,889. Merit Medical Systems has a 1-year low of $81.04 and a 1-year high of $111.45. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $5.33 billion, a P/E ratio of 45.71, a PEG ratio of 2.94 and a beta of 0.66. The firm has a fifty day moving average price of $88.44 and a 200 day moving average price of $94.59.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.16. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The firm had revenue of $382.46 million for the quarter, compared to analyst estimates of $372.47 million. During the same quarter in the previous year, the business posted $0.92 EPS. The firm's revenue was up 13.2% compared to the same quarter last year. On average, equities analysts anticipate 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.