Piper Sandler Increases Merit Medical Systems (NASDAQ:MMSI) Price Target to $97.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective lifted by Piper Sandler from $95.00 to $97.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $102.00 to $112.00 and gave the company a buy rating in a research report on Thursday, February 29th. StockNews.com downgraded shares of Merit Medical Systems from a buy rating to a hold rating in a research note on Wednesday, April 24th. Needham & Company LLC decreased their target price on shares of Merit Medical Systems from $88.00 to $85.00 and set a buy rating on the stock in a research report on Wednesday. Bank of America started coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They set a neutral rating and a $87.00 price target for the company. Finally, Barrington Research reissued an outperform rating and set a $98.00 price objective on shares of Merit Medical Systems in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $92.78.

Merit Medical Systems Trading Up 2.5 %

Merit Medical Systems stock opened at $78.97 on Wednesday. The stock has a market cap of $4.59 billion, a PE ratio of 45.39, a P/E/G ratio of 2.14 and a beta of 0.91. The company has a current ratio of 6.03, a quick ratio of 3.95 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $74.19 and a 200 day moving average price of $74.10. Merit Medical Systems has a 52 week low of $62.58 and a 52 week high of $85.62.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $323.51 million during the quarter, compared to the consensus estimate of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. Equities research analysts predict that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the transaction, the director now directly owns 19,257 shares of the company’s stock, valued at $1,464,109.71. The sale was disclosed in a filing with the SEC, which is available at this link. In other Merit Medical Systems news, insider Joseph Wright sold 25,000 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the transaction, the insider now directly owns 42,223 shares of the company’s stock, valued at $3,195,436.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the transaction, the director now directly owns 19,257 shares in the company, valued at $1,464,109.71. The disclosure for this sale can be found here. Insiders have sold a total of 49,637 shares of company stock valued at $3,751,673 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MMSI. Valued Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems during the fourth quarter worth $29,000. Parallel Advisors LLC lifted its position in shares of Merit Medical Systems by 114.6% during the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares in the last quarter. Tompkins Financial Corp acquired a new position in shares of Merit Medical Systems during the fourth quarter worth $38,000. Headlands Technologies LLC acquired a new position in shares of Merit Medical Systems during the third quarter worth $41,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Merit Medical Systems during the third quarter worth $67,000. 99.66% of the stock is owned by institutional investors and hedge funds.

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.