Merit Medical Systems (NASDAQ:MMSI - Free Report) had its price target upped by Robert W. Baird from $107.00 to $109.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the medical instruments supplier's stock.
A number of other brokerages also recently issued reports on MMSI. Bank of America boosted their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Barrington Research restated an "outperform" rating and set a $114.00 target price on shares of Merit Medical Systems in a report on Friday, October 18th. Wells Fargo & Company lifted their price target on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an "equal weight" rating in a report on Monday, September 16th. Needham & Company LLC restated a "buy" rating and issued a $105.00 price objective on shares of Merit Medical Systems in a report on Monday, September 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $103.36.
Read Our Latest Stock Analysis on MMSI
Merit Medical Systems Trading Up 4.0 %
Merit Medical Systems stock traded up $3.76 during trading hours on Thursday, reaching $98.66. The company had a trading volume of 915,721 shares, compared to its average volume of 438,189. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. Merit Medical Systems has a 12-month low of $65.46 and a 12-month high of $101.60. The company has a 50-day moving average price of $96.49 and a 200 day moving average price of $87.70. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 56.70, a P/E/G ratio of 2.41 and a beta of 0.87.
Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. Equities analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current year.
Institutional Investors Weigh In On Merit Medical Systems
A number of institutional investors have recently modified their holdings of MMSI. Opal Wealth Advisors LLC bought a new position in shares of Merit Medical Systems in the second quarter worth approximately $29,000. DekaBank Deutsche Girozentrale bought a new position in Merit Medical Systems in the 1st quarter valued at approximately $44,000. USA Financial Formulas purchased a new stake in Merit Medical Systems during the 3rd quarter valued at $59,000. Headlands Technologies LLC bought a new stake in shares of Merit Medical Systems in the 1st quarter worth $50,000. Finally, GAMMA Investing LLC raised its stake in shares of Merit Medical Systems by 142.3% in the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier's stock worth $71,000 after purchasing an additional 488 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other 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.
Further Reading
Before you consider Merit Medical Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Merit Medical Systems wasn't on the list.
While Merit Medical Systems currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
