Merit Medical Systems' (MMSI) Hold (C+) Rating Reiterated at Weiss Ratings

Key Points

• Merit Medical Systems (MMSI) has had its "hold (C+)" rating reaffirmed by Weiss Ratings, with the average consensus target price for the stock set at $107.50.
• Following the latest earnings report, the company reported $1.01 EPS, surpassing analysts' expectations of $0.85, and achieving a revenue increase of 13.2% year-over-year.
• Several investment firms, including Wells Fargo and Piper Sandler, have lowered their price targets for the stock, with ranges now between $100.00 and $105.00.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently issued reports on MMSI. Wells Fargo & Company reduced their price objective on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Piper Sandler decreased their price target on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, July 18th. Raymond James Financial decreased 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. Finally, Barrington Research restated an "outperform" rating and set a $103.00 price target on shares of Merit Medical Systems in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Merit Medical Systems presently has an average rating of "Moderate Buy" and a consensus target price of $107.50.

Merit Medical Systems Stock Performance

MMSI stock opened at $83.74 on Wednesday. Merit Medical Systems has a 1 year low of $79.10 and a 1 year high of $111.45. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 2.66 and a beta of 0.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. The stock's fifty day moving average is $85.99 and its two-hundred day moving average is $91.18.

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 for the quarter, topping analysts' consensus estimates of $0.85 by $0.16. The business 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 last year, the company earned $0.92 EPS. On average, research analysts predict that Merit Medical Systems will post 3.37 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction 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 sale, the director owned 12,809 shares in the company, valued at $1,134,365.04. This represents a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Merit Medical Systems

A number of institutional investors have recently modified their holdings of MMSI. Opal Wealth Advisors LLC acquired a new position in Merit Medical Systems in the first quarter worth approximately $31,000. Maseco LLP bought a new stake in shares of Merit Medical Systems during the 2nd quarter worth about $28,000. IFP Advisors Inc lifted its stake in shares of Merit Medical Systems by 1,435.0% in the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock worth $32,000 after buying an additional 287 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Merit Medical Systems by 119.8% in 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. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Merit Medical Systems by 55.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier's stock worth $35,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds 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.

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