Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) hit a new 52-week high during mid-day trading on Monday after Barrington Research raised their price target on the stock from $100.00 to $114.00. Barrington Research currently has an outperform rating on the stock. Merit Medical Systems traded as high as $101.60 and last traded at $100.43, with a volume of 3502 shares changing hands. The stock had previously closed at $99.56.
MMSI has been the topic of a number of other research reports. Wells Fargo & Company increased their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the company an "equal weight" rating in a research note on Monday, September 16th. StockNews.com lowered shares of Merit Medical Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, September 18th. Canaccord Genuity Group upped their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, July 2nd. Robert W. Baird began coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They issued an "outperform" rating and a $96.00 target price for the company. Finally, Piper Sandler reissued an "overweight" rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.82.
Read Our Latest Analysis on Merit Medical Systems
Insider Activity at Merit Medical Systems
In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the business's stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the transaction, the director now owns 32,391 shares in the company, valued at $2,753,235. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.70% of the stock is owned by insiders.
Institutional Investors Weigh In On Merit Medical Systems
A number of large investors have recently added to or reduced their stakes in MMSI. Opal Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems in the 2nd quarter valued at approximately $29,000. Parallel Advisors LLC raised its holdings in Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier's stock valued at $30,000 after acquiring an additional 212 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems in the first quarter valued at $44,000. Headlands Technologies LLC bought a new position in Merit Medical Systems during the 1st quarter valued at $50,000. Finally, EntryPoint Capital LLC grew its holdings in 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 acquiring an additional 880 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.
Merit Medical Systems Price Performance
The company has a market cap of $5.81 billion, a P/E ratio of 57.22, a P/E/G ratio of 2.53 and a beta of 0.87. The company's 50-day moving average price is $91.73 and its two-hundred day moving average price is $83.22. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62.
Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The firm had revenue of $338.00 million for the quarter, compared to analysts' expectations of $334.94 million. As a group, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current year.
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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