Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $101.82 Average Target Price from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $103.36.

MMSI has been the topic of several analyst reports. Barrington Research restated an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a report on Thursday. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday. Needham & Company LLC reaffirmed a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a research note on Thursday. Wells Fargo & Company raised their target price 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. Finally, Bank of America upped their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th.

Merit Medical Systems Trading Up 0.1 %

Shares of MMSI stock opened at $98.80 on Friday. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.45 and a beta of 0.89. The company has a current ratio of 5.36, a quick ratio of 4.64 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $96.60 and a 200 day moving average price of $87.99. Merit Medical Systems has a twelve month low of $65.46 and a twelve month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $339.85 million during the quarter, compared to analyst estimates of $334.60 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Research analysts forecast that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in shares of Merit Medical Systems by 2.9% during the second 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 period. Xponance Inc. lifted its holdings in Merit Medical Systems by 4.9% in the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after acquiring an additional 170 shares during the last quarter. Entropy Technologies LP grew its holdings in shares of Merit Medical Systems by 6.5% during the first quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock valued at $251,000 after purchasing an additional 203 shares during the last quarter. Park Avenue Securities LLC raised its position 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 worth $394,000 after purchasing an additional 223 shares during the period. Finally, Blue Trust Inc. lifted its holdings 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 during the last quarter. 99.66% of the stock is currently owned by hedge funds and other 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.