Merit Medical Systems (NASDAQ:MMSI) PT Raised to $125.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective upped by Canaccord Genuity Group from $102.00 to $125.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 43.50% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Barrington Research lifted their target price on Merit Medical Systems from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Piper Sandler raised their target price on shares of Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Baird R W upgraded shares of Merit Medical Systems to a “strong-buy” rating in a report on Friday. Finally, Robert W. Baird initiated coverage on shares of Merit Medical Systems in a research note on Friday. They set an “outperform” rating and a $96.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $96.20.

Merit Medical Systems Trading Up 1.7 %

Shares of NASDAQ:MMSI traded up $1.47 on Tuesday, hitting $87.11. 144,474 shares of the company’s stock were exchanged, compared to its average volume of 448,478. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 50.07, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $87.28. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38. The business’s 50 day simple moving average is $80.85 and its two-hundred day simple moving average is $77.75.

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

Insider Buying and Selling at Merit Medical Systems

In other news, COO Neil Peterson sold 7,500 shares of the 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 in the company, valued at approximately $1,212,935.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Neil Peterson sold 7,500 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $81.85, for a total value of $613,875.00. Following the completion of the transaction, the chief operating officer now owns 14,819 shares in the company, valued at approximately $1,212,935.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Glenmede Trust Co. NA raised its position in Merit Medical Systems by 15.7% during the third quarter. Glenmede Trust Co. NA now owns 26,617 shares of the medical instruments supplier’s stock worth $1,837,000 after acquiring an additional 3,604 shares during the period. Lido Advisors LLC acquired a new stake in shares of Merit Medical Systems in the 3rd quarter worth $253,000. Sectoral Asset Management Inc. raised its stake in Merit Medical Systems by 3.9% during the third quarter. Sectoral Asset Management Inc. now owns 79,000 shares of the medical instruments supplier’s stock worth $5,453,000 after purchasing an additional 3,000 shares during the period. Royal Bank of Canada boosted its holdings in Merit Medical Systems by 5.3% in the 3rd quarter. Royal Bank of Canada now owns 624,421 shares of the medical instruments supplier’s stock valued at $43,100,000 after purchasing an additional 31,204 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Merit Medical Systems by 69.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 103,099 shares of the medical instruments supplier’s stock worth $7,116,000 after buying an additional 42,191 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

About Merit Medical Systems

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.