Analysts Set Merit Medical Systems, Inc. (NASDAQ:MMSI) PT at $101.82

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $101.82.

Several analysts recently weighed in on MMSI shares. 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. Piper Sandler restated an "overweight" rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Canaccord Genuity Group boosted their target price on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, July 2nd. Bank of America boosted 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. Finally, StockNews.com upgraded shares of Merit Medical Systems from a "hold" rating to a "buy" rating in a report on Saturday.

Hedge Funds Weigh In On Merit Medical Systems

A number of hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Merit Medical Systems in the 2nd quarter worth about $29,000. DekaBank Deutsche Girozentrale purchased a new position in Merit Medical Systems in the 1st quarter worth about $44,000. USA Financial Formulas purchased a new position in Merit Medical Systems in the 3rd quarter worth about $59,000. Headlands Technologies LLC purchased a new position in Merit Medical Systems in the 1st quarter worth about $50,000. Finally, GAMMA Investing LLC raised its position in Merit Medical Systems by 142.3% in the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier's stock worth $71,000 after buying an additional 488 shares during the last quarter. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Trading Up 0.1 %

NASDAQ:MMSI traded up $0.13 during trading hours on Friday, hitting $96.00. The company had a trading volume of 279,168 shares, compared to its average volume of 436,547. The company has a market capitalization of $5.59 billion, a PE ratio of 48.00, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. The stock has a 50-day moving average price of $96.11 and a 200 day moving average price of $87.15. Merit Medical Systems has a 52 week low of $63.13 and a 52 week high of $101.60. 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 (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. On average, equities research analysts predict that Merit Medical Systems will post 3.31 EPS for the current fiscal 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.