Wells Fargo & Company Issues Pessimistic Forecast for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI) had its price objective reduced by analysts at Wells Fargo & Company from $120.00 to $117.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 15.86% from the company’s current price.

A number of other analysts also recently issued reports on the stock. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Barrington Research lifted their target price on shares of Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Raymond James increased their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. Robert W. Baird boosted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC lowered their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $108.90.

Merit Medical Systems Stock Down 2.4 %

MMSI opened at $100.99 on Wednesday. The stock has a market cap of $5.89 billion, a PE ratio of 49.50, a P/E/G ratio of 2.34 and a beta of 0.87. The business’s fifty day simple moving average is $102.72 and its 200 day simple moving average is $99.89. Merit Medical Systems has a 52 week low of $70.70 and a 52 week high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. NewSquare Capital LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $52,000. Federated Hermes Inc. grew its stake in Merit Medical Systems by 139.1% in the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after purchasing an additional 381 shares in the last quarter. Group One Trading LLC bought a new position in Merit Medical Systems in the fourth quarter worth approximately $77,000. Finally, Farther Finance Advisors LLC increased its holdings in Merit Medical Systems by 32.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after purchasing an additional 260 shares during the period. 99.66% of the stock is 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.