Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives Average Recommendation of “Moderate Buy” from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $101.82.

A number of equities research analysts have recently weighed in on the company. Barrington Research boosted their target price on Merit Medical Systems from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a research report on Monday, September 16th. Bank of America lifted their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Robert W. Baird initiated coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC increased its holdings in shares of Merit Medical Systems by 0.3% in the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock worth $262,445,000 after acquiring an additional 10,512 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in Merit Medical Systems by 3.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock worth $193,419,000 after purchasing an additional 75,885 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after buying an additional 131,977 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock valued at $63,543,000 after buying an additional 22,077 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Merit Medical Systems by 147.2% during the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock worth $54,545,000 after acquiring an additional 377,851 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Trading Up 1.0 %

MMSI opened at $95.68 on Wednesday. Merit Medical Systems has a 1-year low of $62.58 and a 1-year high of $101.60. The stock has a market capitalization of $5.56 billion, a PE ratio of 54.99, a PEG ratio of 2.52 and a beta of 0.87. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $94.26 and a two-hundred day moving average price of $85.08.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. As a group, equities analysts anticipate that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

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.