Merit Medical Systems, Inc. (NASDAQ:MMSI) Given Average Rating of “Moderate Buy” by Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $93.10.

A number of brokerages recently issued reports on MMSI. CL King began coverage on Merit Medical Systems in a report on Thursday, April 11th. They issued a “buy” rating and a $88.00 target price on the stock. Barrington Research raised their target price on Merit Medical Systems from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Robert W. Baird assumed coverage on Merit Medical Systems in a research report on Friday. They issued an “outperform” rating and a $96.00 target price for the company. Finally, Piper Sandler raised their target price on Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st.

Insider Activity at Merit Medical Systems

In related news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction on Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the completion of the sale, the chief operating officer now owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. Valued Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter worth about $29,000. Parallel Advisors LLC lifted its position in shares of Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 212 shares during the last quarter. Tompkins Financial Corp acquired a new stake in shares of Merit Medical Systems in the fourth quarter worth about $38,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Merit Medical Systems in the first quarter worth about $44,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Merit Medical Systems in the first quarter worth about $50,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Up 3.0 %

Shares of MMSI stock opened at $85.95 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. The stock has a market cap of $4.99 billion, a PE ratio of 49.40, a price-to-earnings-growth ratio of 2.31 and a beta of 0.91. The business’s fifty day moving average is $80.60 and its 200-day moving average is $77.55. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $86.44.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $323.51 million for the quarter, compared to analysts’ expectations of $315.57 million. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. Equities analysts expect that Merit Medical Systems will post 3.33 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.