Merit Medical Systems (NASDAQ:MMSI - Get Free Report) had its price target raised by equities researchers at Canaccord Genuity Group from $127.00 to $128.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the medical instruments supplier's stock. Canaccord Genuity Group's price objective would suggest a potential upside of 17.56% from the company's previous close.
MMSI has been the subject of several other reports. Raymond James boosted their price target on Merit Medical Systems from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, December 31st. Piper Sandler upped their target price on Merit Medical Systems from $110.00 to $114.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Wells Fargo & Company upgraded Merit Medical Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $103.00 to $120.00 in a research report on Wednesday, December 11th. Barrington Research upped their price objective on shares of Merit Medical Systems from $114.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $109.80.
View Our Latest Research Report on MMSI
Merit Medical Systems Stock Performance
Shares of MMSI traded down $1.41 during midday trading on Wednesday, reaching $108.88. 532,979 shares of the stock were exchanged, compared to its average volume of 490,501. The stock's 50 day simple moving average is $101.54 and its 200 day simple moving average is $97.37. The company has a market cap of $6.35 billion, a P/E ratio of 53.37, a PEG ratio of 2.42 and a beta of 0.85. Merit Medical Systems has a twelve month low of $70.70 and a twelve month high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.
Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The firm had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Merit Medical Systems will post 3.37 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Raul Jr. Parra sold 29,646 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the sale, the chief financial officer now owns 16,361 shares of the company's stock, valued at $1,603,705.22. This trade represents a 64.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the company's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the transaction, the director now directly owns 32,391 shares of the company's stock, valued at approximately $3,289,306.05. The trade was a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.
Institutional Trading of Merit Medical Systems
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in Merit Medical Systems by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier's stock worth $2,728,000 after buying an additional 100 shares during the period. Tidal Investments LLC raised its stake in shares of Merit Medical Systems by 1.0% during the third quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier's stock valued at $1,028,000 after acquiring an additional 104 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Merit Medical Systems by 2.9% during the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier's stock worth $362,000 after purchasing an additional 118 shares during the period. Xponance Inc. grew its stake in shares of Merit Medical Systems by 4.9% in the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier's stock worth $311,000 after purchasing an additional 170 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in Merit Medical Systems by 0.6% in 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 purchasing an additional 170 shares during the period. 99.66% of the stock is currently owned by institutional investors.
About Merit Medical Systems
(
Get Free Report)
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.
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