Merit Medical Systems’ (MMSI) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a report published on Wednesday morning,Benzinga reports. They currently have a $116.00 target price on the medical instruments supplier’s stock, up from their previous target price of $114.00.

MMSI has been the subject of a number of other reports. Canaccord Genuity Group increased their price target on Merit Medical Systems from $127.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Needham & Company LLC boosted their price target on Merit Medical Systems from $109.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird raised their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company upgraded shares of Merit Medical Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $120.00 in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.80.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $108.88 on Wednesday. The stock’s 50 day moving average is $101.47 and its 200 day moving average is $97.13. Merit Medical Systems has a one year low of $70.70 and a one year high of $111.45. The firm has a market cap of $6.35 billion, a P/E ratio of 53.37, a P/E/G ratio of 2.42 and a beta of 0.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS 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 company had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. During the same period in the prior year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Merit Medical Systems will post 3.37 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the sale, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at $1,603,705.22. This represents a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

Large investors have recently bought and sold shares of the stock. USA Financial Formulas purchased a new stake in shares of Merit Medical Systems in the third quarter valued at about $59,000. Farther Finance Advisors LLC increased its stake in Merit Medical Systems by 32.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after buying an additional 260 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $120,000. GAMMA Investing LLC boosted its stake in shares of Merit Medical Systems by 56.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,303 shares of the medical instruments supplier’s stock worth $129,000 after buying an additional 472 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Merit Medical Systems by 13.9% in the third quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier’s stock valued at $171,000 after acquiring an additional 211 shares in the last quarter. 99.66% of the stock is currently 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.