Merit Medical Systems (NASDAQ:MMSI) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a hold rating to a buy rating in a report issued on Thursday.

MMSI has been the subject of a number of other reports. Bank of America upped their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Canaccord Genuity Group lifted their target price on Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Needham & Company LLC restated a “buy” rating and set a $105.00 price target on shares of Merit Medical Systems in a research note on Monday, September 16th. Finally, Robert W. Baird started coverage on Merit Medical Systems in a report on Friday, June 28th. They set an “outperform” rating and a $96.00 price target for the company. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.82.

Merit Medical Systems Stock Up 0.0 %

Shares of NASDAQ MMSI opened at $95.27 on Thursday. The business has a 50-day moving average price of $95.49 and a 200 day moving average price of $86.10. The stock has a market cap of $5.54 billion, a PE ratio of 54.75, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. Merit Medical Systems has a 52-week low of $63.13 and a 52-week high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. Equities research analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current year.

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems in the second quarter valued at $29,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Merit Medical Systems in the first quarter valued at about $44,000. Headlands Technologies LLC acquired a new stake in shares of Merit Medical Systems in the first quarter valued at approximately $50,000. USA Financial Formulas purchased a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $59,000. Finally, EntryPoint Capital LLC raised its position in shares of Merit Medical Systems by 2,666.7% during the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 880 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

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.