Merit Medical Systems (NASDAQ:MMSI) PT Raised to $114.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective upped by equities research analysts at Barrington Research from $100.00 to $114.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price objective points to a potential upside of 14.50% from the company’s previous close.

Several other equities analysts have also commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price objective on shares of Merit Medical Systems in a research report on Monday, September 16th. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America increased their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Robert W. Baird started coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 price target on the stock. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $101.82.

Merit Medical Systems Stock Down 0.7 %

NASDAQ:MMSI opened at $99.56 on Friday. The firm has a 50-day simple moving average of $91.73 and a two-hundred day simple moving average of $83.16. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $101.25. The firm has a market cap of $5.79 billion, a P/E ratio of 57.22, a P/E/G ratio of 2.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. Analysts predict that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insider Activity

In other news, Director F. Ann Millner sold 12,500 shares of the firm’s 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 sale, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of institutional investors have recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Merit Medical Systems by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after buying an additional 118 shares in the last quarter. Xponance Inc. boosted its stake in Merit Medical Systems by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after purchasing an additional 170 shares in the last quarter. Entropy Technologies LP boosted its stake in Merit Medical Systems by 6.5% in the 1st quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock worth $251,000 after purchasing an additional 203 shares in the last quarter. Parallel Advisors LLC boosted its stake in Merit Medical Systems by 114.6% in the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Merit Medical Systems by 19.7% in the 2nd quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier’s stock worth $123,000 after purchasing an additional 235 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

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.