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

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $103.36.

MMSI has been the topic of several recent research reports. Barrington Research reissued an "outperform" rating and issued a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Piper Sandler restated an "overweight" rating and issued a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Needham & Company LLC reiterated a "buy" rating and issued a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Robert W. Baird upped their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Finally, StockNews.com downgraded Merit Medical Systems from a "buy" rating to a "hold" rating in a research report on Sunday, November 3rd.

Insider Buying and Selling at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares in the company, valued at $3,289,306.05. The trade was a 27.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the sale, the chief financial officer now owns 16,361 shares of the company's stock, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors have recently made changes to their positions in MMSI. American Century Companies Inc. increased its position in 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. increased its holdings in shares of Merit Medical Systems by 4.9% during the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier's stock valued at $311,000 after acquiring an additional 170 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Merit Medical Systems by 0.6% during the third quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier's stock valued at $2,830,000 after acquiring an additional 170 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Merit Medical Systems by 2.6% during the third quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier's stock worth $735,000 after purchasing an additional 187 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Merit Medical Systems by 13.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier's stock worth $171,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $104.08 on Thursday. Merit Medical Systems has a 12 month low of $65.46 and a 12 month high of $105.46. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $6.07 billion, a PE ratio of 51.02, a PEG ratio of 2.60 and a beta of 0.89. The stock's fifty day simple moving average is $98.23 and its 200 day simple moving average is $90.55.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.06. The business had revenue of $339.85 million during the quarter, compared to analysts' expectations of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. Merit Medical Systems's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. On average, research analysts predict that Merit Medical Systems will post 3.36 EPS for the current year.

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.