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

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.

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $107.00.

A number of equities research analysts have recently commented on the company. Raymond James Financial dropped their target price on 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. Robert W. Baird decreased their target price on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Needham & Company LLC restated a "buy" rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Friday, July 18th. Wells Fargo & Company decreased their price target on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Finally, Canaccord Genuity Group set a $112.00 price objective on shares of Merit Medical Systems and gave the company a "buy" rating in a report on Wednesday, May 21st.

Merit Medical Systems Trading Up 3.3%

MMSI stock opened at $89.45 on Friday. The firm's 50-day moving average is $88.73 and its 200 day moving average is $95.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. Merit Medical Systems has a 12 month low of $81.04 and a 12 month high of $111.45. The company has a market capitalization of $5.30 billion, a PE ratio of 45.41, a P/E/G ratio of 2.83 and a beta of 0.66.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $382.46 million for the quarter, compared to analysts' expectations of $372.47 million. During the same period in the prior year, the business earned $0.92 EPS. The firm's quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts anticipate that Merit Medical Systems will post 3.37 EPS for the current year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director Lynne N. Ward sold 2,433 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $84.89, for a total transaction of $206,537.37. Following the completion of the transaction, the director owned 12,809 shares in the company, valued at approximately $1,087,356.01. This represents a 15.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Raul Jr. Parra sold 15,181 shares of Merit Medical Systems stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the sale, the chief financial officer owned 24,201 shares in the company, valued at approximately $2,268,843.75. This trade represents a 38.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,779 shares of company stock valued at $6,327,983 in the last quarter. Company insiders own 3.20% of the company's stock.

Institutional Trading of Merit Medical Systems

Large investors have recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems during the first quarter valued at approximately $31,000. Maseco LLP acquired a new stake in Merit Medical Systems during the 2nd quarter worth approximately $28,000. IFP Advisors Inc raised its stake in shares of Merit Medical Systems by 1,435.0% in the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock valued at $32,000 after acquiring an additional 287 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Merit Medical Systems by 119.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in 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 worth $35,000 after acquiring an additional 134 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.