Merit Medical Systems’ (MMSI) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a research note issued to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a $109.00 price objective on the medical instruments supplier’s stock.

Other equities research analysts have also recently issued reports about the stock. Barrington Research reaffirmed an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird lifted their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems currently has an average rating of “Moderate Buy” and a consensus target price of $103.36.

Merit Medical Systems Stock Up 0.4 %

Shares of NASDAQ MMSI traded up $0.40 during mid-day trading on Thursday, hitting $99.06. The company had a trading volume of 125,692 shares, compared to its average volume of 436,715. Merit Medical Systems has a one year low of $65.46 and a one year high of $101.60. The company has a market capitalization of $5.77 billion, a PE ratio of 48.78, a price-to-earnings-growth ratio of 2.39 and a beta of 0.87. 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 has a 50-day simple moving average of $96.49 and a two-hundred day simple moving average of $87.70.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. The company had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a return on equity of 15.86% and a net margin of 9.05%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, equities analysts expect that Merit Medical Systems will post 3.3 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. UniSuper Management Pty Ltd bought a new position in shares of Merit Medical Systems in the first quarter worth $1,083,000. Quantbot Technologies LP raised its position in shares of Merit Medical Systems by 17,716.1% in the 1st quarter. Quantbot Technologies LP now owns 9,977 shares of the medical instruments supplier’s stock valued at $756,000 after buying an additional 9,921 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Merit Medical Systems by 36.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,144 shares of the medical instruments supplier’s stock worth $1,638,000 after acquiring an additional 5,915 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Merit Medical Systems by 55.3% during the 1st quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock worth $4,011,000 after acquiring an additional 18,863 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Merit Medical Systems by 1,147.3% in the first quarter. Lazard Asset Management LLC now owns 7,858 shares of the medical instruments supplier’s stock valued at $594,000 after acquiring an additional 7,228 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Company Profile

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.