Merit Medical Systems (NASDAQ:MMSI - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $108.00 price target on the medical instruments supplier's stock. Needham & Company LLC's target price points to a potential upside of 13.28% from the stock's current price.
Several other analysts have also commented on the stock. Canaccord Genuity Group set a $112.00 price target on shares of Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Raymond James Financial reduced their target price on Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Barrington Research lowered their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Robert W. Baird cut their price objective on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 target price (up previously from $106.00) on shares of Merit Medical Systems in a research report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $109.11.
Check Out Our Latest Stock Analysis on Merit Medical Systems
Merit Medical Systems Price Performance
Shares of NASDAQ:MMSI traded up $4.22 during midday trading on Tuesday, hitting $95.34. The company's stock had a trading volume of 1,005,032 shares, compared to its average volume of 539,372. The company has a market cap of $5.63 billion, a P/E ratio of 46.74, a price-to-earnings-growth ratio of 3.08 and a beta of 0.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.26 and a current ratio of 4.87. Merit Medical Systems has a 12-month low of $82.62 and a 12-month high of $111.45. The business's 50 day simple moving average is $94.66 and its 200 day simple moving average is $98.48.
Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.52% and a net margin of 8.81%. The business had revenue of $355.35 million for the quarter, compared to analyst estimates of $352.57 million. During the same quarter in the previous year, the firm earned $0.77 EPS. The company's quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast 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, CFO Raul Jr. Parra sold 15,181 shares of Merit Medical Systems stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the transaction, the chief financial officer directly owned 24,201 shares of the company's stock, valued at $2,268,843.75. The trade was a 38.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the director owned 6,395 shares in the company, valued at $604,391.45. This trade represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,596 shares of company stock worth $8,171,433 over the last ninety days. Company insiders own 3.70% of the company's stock.
Institutional Trading of Merit Medical Systems
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Merit Medical Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier's stock valued at $643,058,000 after purchasing an additional 63,314 shares during the last quarter. FMR LLC increased its holdings in Merit Medical Systems by 31.6% in the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier's stock valued at $200,833,000 after buying an additional 499,193 shares during the last quarter. Invesco Ltd. raised its stake in Merit Medical Systems by 16.4% in the first quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier's stock valued at $188,934,000 after buying an additional 251,821 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Merit Medical Systems by 8.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,766,711 shares of the medical instruments supplier's stock worth $186,759,000 after buying an additional 133,465 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new position in shares of Merit Medical Systems during the 1st quarter worth about $134,517,000. Institutional investors and hedge funds own 99.66% of the company's stock.
Merit Medical Systems Company Profile
(
Get Free Report)
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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