Analysts Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Price Target at $107.78

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) have received an average rating of "Buy" from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $108.67.

Several research firms have commented on MMSI. Barrington Research decreased their price objective on shares of Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. initiated coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They set an "overweight" rating and a $120.00 target price for the company. Wells Fargo & Company set a $106.00 target price on shares of Merit Medical Systems and gave the company an "overweight" rating in a research report on Friday, April 25th. Needham & Company LLC increased their target price on shares of Merit Medical Systems from $100.00 to $108.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Canaccord Genuity Group reduced their target price on shares of Merit Medical Systems from $127.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, April 25th.

Merit Medical Systems Stock Up 0.7%

NASDAQ:MMSI traded up $0.71 on Thursday, hitting $98.81. The stock had a trading volume of 926,676 shares, compared to its average volume of 518,724. 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 cap of $5.84 billion, a P/E ratio of 48.44, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70. Merit Medical Systems has a 1 year low of $80.02 and a 1 year high of $111.45. The firm's fifty day simple moving average is $96.77 and its two-hundred day simple moving average is $100.58.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, beating the consensus estimate of $0.75 by $0.11. The firm had revenue of $355.35 million during the quarter, compared to analyst estimates of $352.57 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Analysts predict that Merit Medical Systems will post 3.37 earnings per share for the current year.

Insider Buying and Selling

In other Merit Medical Systems news, Director Stephen C. Evans sold 5,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total value of $526,550.00. Following the sale, the director now owns 4,657 shares of the company's stock, valued at $490,428.67. This trade represents a 51.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director F. Ann Millner sold 21,250 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $96.47, for a total transaction of $2,049,987.50. Following the completion of the sale, the director now directly owns 34,543 shares in the company, valued at approximately $3,332,363.21. This trade represents a 38.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,382 shares of company stock worth $13,189,508 in the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Merit Medical Systems

Large investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Merit Medical Systems in the 1st quarter worth $31,000. NewSquare Capital LLC bought a new stake in shares of Merit Medical Systems during the 4th quarter valued at about $32,000. IFP Advisors Inc boosted its stake 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 purchasing an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 purchasing an additional 200 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new stake in shares of Merit Medical Systems during the 1st quarter valued at about $41,000. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Company Profile

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.