Merit Medical Systems (NASDAQ:MMSI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Merit Medical Systems (NASDAQ:MMSI - Free Report) from a hold rating to a buy rating in a report released on Saturday morning.

Several other equities research analysts also recently weighed in on the stock. Baird R W raised shares of Merit Medical Systems to a "strong-buy" rating in a research note on Friday, June 28th. Needham & Company LLC reissued a "buy" rating and issued a $105.00 price objective on shares of Merit Medical Systems in a research 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 research report on Friday, October 18th. Wells Fargo & Company increased their price target on Merit Medical Systems from $85.00 to $103.00 and gave the stock an "equal weight" rating in a report on Monday, September 16th. Finally, Piper Sandler restated an "overweight" rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $101.82.

Merit Medical Systems Trading Up 0.1 %

Shares of NASDAQ:MMSI traded up $0.13 during trading on Friday, reaching $96.00. The company's stock had a trading volume of 279,168 shares, compared to its average volume of 436,547. The stock 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. Merit Medical Systems has a 12 month low of $63.13 and a 12 month high of $101.60. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The firm's 50 day simple moving average is $96.11 and its two-hundred day simple moving average is $87.15.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $334.94 million. On average, research analysts predict that Merit Medical Systems will post 3.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

Large investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of Merit Medical Systems by 2.9% during the 2nd 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 last quarter. Xponance Inc. grew its position in shares of Merit Medical Systems by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier's stock worth $311,000 after buying an additional 170 shares during the last quarter. Entropy Technologies LP raised its stake in shares of Merit Medical Systems by 6.5% during the 1st quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier's stock worth $251,000 after acquiring an additional 203 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Merit Medical Systems by 5.9% during the 3rd quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier's stock valued at $394,000 after purchasing an additional 223 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Merit Medical Systems by 19.7% in the 2nd quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier's stock worth $123,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 99.66% of the company's stock.

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.