Merit Medical Systems (NASDAQ:MMSI) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a report released on Monday morning, Benzinga reports. They currently have a $105.00 target price on the medical instruments supplier’s stock.

Other equities analysts also recently issued research reports about the company. Robert W. Baird began coverage on Merit Medical Systems in a research report on Friday, June 28th. They issued an outperform rating and a $96.00 price objective for the company. Baird R W upgraded Merit Medical Systems to a strong-buy rating in a research report on Friday, June 28th. Bank of America boosted their target price on Merit Medical Systems from $92.00 to $103.00 and gave the stock a neutral rating in a research report on Monday. StockNews.com upgraded Merit Medical Systems from a hold rating to a buy rating in a research report on Monday, August 5th. Finally, Canaccord Genuity Group boosted their target price on Merit Medical Systems from $102.00 to $125.00 and gave the stock a buy rating in a research report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $100.55.

Merit Medical Systems Trading Up 0.2 %

Shares of MMSI opened at $98.71 on Monday. The stock has a fifty day moving average price of $91.20 and a two-hundred day moving average price of $82.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $100.32. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 56.73, a PEG ratio of 2.53 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. Analysts predict that Merit Medical Systems will post 3.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MMSI. Dimensional Fund Advisors LP boosted its stake in Merit Medical Systems by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after acquiring an additional 41,065 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Merit Medical Systems by 17.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,684 shares of the medical instruments supplier’s stock worth $280,000 after buying an additional 552 shares during the period. Quadrant Capital Group LLC raised its holdings in Merit Medical Systems by 60.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,126 shares of the medical instruments supplier’s stock worth $161,000 after buying an additional 803 shares during the period. Norges Bank acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $38,165,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $334,000. Institutional investors own 99.66% of the company’s stock.

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.