Merit Medical Systems (NASDAQ:MMSI - Get Free Report) had its price objective lifted by stock analysts at Piper Sandler from $106.00 to $110.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical instruments supplier's stock. Piper Sandler's target price would indicate a potential upside of 16.14% from the company's previous close.
A number of other research analysts have also recently commented on the stock. Needham & Company LLC increased their target price on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Raymond James decreased their target price on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a research report on Friday, March 28th. They set an "overweight" rating and a $120.00 target price on the stock. Robert W. Baird cut their price objective on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Barrington Research decreased their price target 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. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $109.11.
Get Our Latest Stock Report on Merit Medical Systems
Merit Medical Systems Stock Performance
Shares of Merit Medical Systems stock traded down $0.40 during trading on Friday, reaching $94.71. The company's stock had a trading volume of 11,861 shares, compared to its average volume of 517,581. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5.60 billion, a PE ratio of 46.34, a P/E/G ratio of 2.34 and a beta of 0.70. Merit Medical Systems has a 52 week low of $80.02 and a 52 week high of $111.45. The business's 50-day moving average price is $96.61 and its 200-day moving average price is $100.53.
Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.11. The company had revenue of $355.35 million for the quarter, compared to analysts' expectations of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. Merit Medical Systems's revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. Equities analysts forecast that Merit Medical Systems will post 3.37 earnings per share for the current year.
Insider Activity
In other Merit Medical Systems news, insider Brian G. Lloyd sold 25,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the sale, the insider now directly owns 38,993 shares of the company's stock, valued at $3,879,803.50. This trade represents a 39.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director F. Ann Millner sold 21,250 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $96.47, for a total value of $2,049,987.50. Following the transaction, the director now directly owns 34,543 shares in the company, valued at $3,332,363.21. This represents a 38.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,382 shares of company stock valued at $13,189,508 in the last ninety days. 3.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Merit Medical Systems
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMSI. Vanguard Group Inc. raised its position in shares of Merit Medical Systems by 1.0% in the fourth 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 period. FMR LLC grew its stake in Merit Medical Systems by 31.6% in the 4th 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 in the last quarter. Invesco Ltd. raised its holdings in Merit Medical Systems by 16.4% during the 1st quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier's stock valued at $188,934,000 after acquiring an additional 251,821 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in shares of Merit Medical Systems by 8.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,766,711 shares of the medical instruments supplier's stock worth $186,759,000 after acquiring an additional 133,465 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new position in shares of Merit Medical Systems in the first quarter worth $134,517,000. Institutional investors own 99.66% of the company's stock.
About Merit Medical Systems
(
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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