Merit Medical Systems (NASDAQ:MMSI) Rating Increased to Strong-Buy at StockNews.com

Merit Medical Systems (NASDAQ:MMSIGet Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

Other equities research analysts also recently issued research reports about the stock. TheStreet raised shares of Merit Medical Systems from a “c” rating to a “b-” rating in a research report on Friday, February 25th. Barrington Research boosted their price objective on shares of Merit Medical Systems from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, February 25th. Raymond James lowered their price objective on shares of Merit Medical Systems from $73.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, February 25th. Piper Sandler reduced their target price on shares of Merit Medical Systems from $79.00 to $75.00 in a research note on Friday, February 25th. Finally, Needham & Company LLC reduced their target price on shares of Merit Medical Systems from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, February 25th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $75.20.

Shares of NASDAQ:MMSI opened at $67.99 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 2.04. Merit Medical Systems has a 1-year low of $51.66 and a 1-year high of $73.85. The company’s fifty day moving average is $62.34 and its two-hundred day moving average is $63.97. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 79.99, a price-to-earnings-growth ratio of 2.60 and a beta of 1.03.

Merit Medical Systems (NASDAQ:MMSIGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The medical instruments supplier reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.21. Merit Medical Systems had a net margin of 4.51% and a return on equity of 13.54%. The business had revenue of $278.50 million during the quarter, compared to the consensus estimate of $270.96 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Merit Medical Systems will post 2.49 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of MMSI. BNP Paribas Arbitrage SA lifted its stake in shares of Merit Medical Systems by 181.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 49,055 shares of the medical instruments supplier’s stock worth $3,522,000 after acquiring an additional 31,650 shares during the period. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Merit Medical Systems by 22.5% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 472,218 shares of the medical instruments supplier’s stock worth $33,905,000 after acquiring an additional 86,729 shares during the period. FDx Advisors Inc. lifted its stake in shares of Merit Medical Systems by 15.2% in the 4th quarter. FDx Advisors Inc. now owns 7,919 shares of the medical instruments supplier’s stock worth $493,000 after acquiring an additional 1,043 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Merit Medical Systems by 8.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 587,833 shares of the medical instruments supplier’s stock worth $42,206,000 after acquiring an additional 47,320 shares during the period. Finally, Strs Ohio lifted its stake in shares of Merit Medical Systems by 7.1% in the 4th quarter. Strs Ohio now owns 22,700 shares of the medical instruments supplier’s stock worth $1,414,000 after acquiring an additional 1,500 shares during the period. 95.93% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Company Profile (Get Rating)

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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