Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $98.20 Consensus PT from Brokerages

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been given a consensus rating of “Buy” by the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $99.20.

Several brokerages recently commented on MMSI. Bank of America increased their price objective on shares of Merit Medical Systems from $87.00 to $92.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Robert W. Baird began coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They set an “outperform” rating and a $96.00 price target on the stock. Piper Sandler restated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Finally, StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $96.16 on Friday. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. The stock has a market cap of $5.60 billion, a P/E ratio of 55.26, a P/E/G ratio of 2.53 and a beta of 0.87. The business’s 50 day moving average price is $90.42 and its 200-day moving average price is $82.36. Merit Medical Systems has a 52 week low of $62.58 and a 52 week high of $98.04.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping the consensus estimate 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 business had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. Equities research analysts anticipate that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the completion of the sale, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MMSI. William Blair Investment Management LLC lifted its position in shares of Merit Medical Systems by 0.3% during the 2nd quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after buying an additional 10,512 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Merit Medical Systems by 3.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock worth $193,419,000 after acquiring an additional 75,885 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Merit Medical Systems by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock valued at $99,258,000 after purchasing an additional 41,065 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after purchasing an additional 131,977 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock worth $63,543,000 after purchasing an additional 22,077 shares in the last quarter. Hedge funds and other 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.