Wells Fargo & Company Has Lowered Expectations for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI) had its price objective cut by analysts at Wells Fargo & Company from $120.00 to $117.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 18.76% from the stock’s current price.

Several other analysts have also issued reports on the company. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Canaccord Genuity Group boosted their price objective on Merit Medical Systems from $127.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Barrington Research boosted their price objective on Merit Medical Systems from $114.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Needham & Company LLC lowered their price objective on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Raymond James boosted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.40.

Merit Medical Systems Stock Down 1.9 %

Shares of NASDAQ MMSI opened at $98.52 on Wednesday. Merit Medical Systems has a 12 month low of $70.70 and a 12 month high of $111.45. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 48.29, a PEG ratio of 2.34 and a beta of 0.87. The business has a 50-day moving average of $102.83 and a 200-day moving average of $99.88.

Institutional Investors Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Merit Medical Systems by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier’s stock worth $643,058,000 after purchasing an additional 63,314 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of Merit Medical Systems by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock worth $226,236,000 after acquiring an additional 38,780 shares during the last quarter. State Street Corp grew its stake in shares of Merit Medical Systems by 0.7% in the third quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock worth $220,559,000 after acquiring an additional 15,098 shares during the last quarter. FMR LLC grew its stake in shares of Merit Medical Systems by 31.6% in the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier’s stock worth $200,833,000 after acquiring an additional 499,193 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Merit Medical Systems by 2.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,633,246 shares of the medical instruments supplier’s stock worth $157,968,000 after acquiring an additional 36,489 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

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.