Merit Medical Systems, Inc. (NASDAQ:MMSI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have received a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $92.78.

Several research firms have recently weighed in on MMSI. CL King started coverage on Merit Medical Systems in a research note on Thursday, April 11th. They issued a “buy” rating and a $88.00 price target for the company. Canaccord Genuity Group decreased their target price on Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday. Raymond James raised their price target on shares of Merit Medical Systems from $84.00 to $89.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Piper Sandler lifted their price target on shares of Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Oppenheimer increased their price objective on shares of Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th.

Insider Buying and Selling at Merit Medical Systems

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

Hedge Funds Weigh In On Merit Medical Systems

A number of hedge funds have recently modified their holdings of the company. Renaissance Group LLC lifted its stake in shares of Merit Medical Systems by 0.6% during the 4th quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock valued at $1,863,000 after buying an additional 144 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 212 shares during the period. Arizona State Retirement System grew its position in shares of Merit Medical Systems by 1.5% during the third quarter. Arizona State Retirement System now owns 16,370 shares of the medical instruments supplier’s stock worth $1,130,000 after purchasing an additional 236 shares in the last quarter. Zions Bancorporation N.A. raised its stake in Merit Medical Systems by 0.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 28,869 shares of the medical instruments supplier’s stock valued at $1,993,000 after purchasing an additional 270 shares during the period. Finally, Advisor Partners II LLC raised its stake in Merit Medical Systems by 7.9% during the 3rd quarter. Advisor Partners II LLC now owns 3,704 shares of the medical instruments supplier’s stock valued at $256,000 after purchasing an additional 271 shares during the period. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $78.97 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.95 and a current ratio of 6.03. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 45.39, a price-to-earnings-growth ratio of 2.15 and a beta of 0.91. Merit Medical Systems has a one year low of $62.58 and a one year high of $85.62. The company’s 50-day moving average is $74.19 and its 200 day moving average is $74.15.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The firm had revenue of $323.51 million for the quarter, compared to analysts’ expectations of $315.57 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts expect that Merit Medical Systems will post 3.33 EPS for the current fiscal year.

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.