Analysts Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Target Price at $92.78

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $93.10.

A number of equities analysts have recently weighed in on MMSI shares. Barrington Research boosted their price target on Merit Medical Systems from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler boosted their price target on Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Canaccord Genuity Group cut their price target on Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Robert W. Baird started coverage on Merit Medical Systems in a report on Friday. They issued an “outperform” rating and a $96.00 price target for the company.

Insiders Place Their Bets

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the completion of the sale, the chief operating officer now directly owns 14,819 shares in the company, valued at $1,212,935.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMSI. Congress Asset Management Co. MA increased its stake in Merit Medical Systems by 4,411.3% during the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock worth $39,275,000 after acquiring an additional 506,992 shares during the last quarter. Norges Bank acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $38,165,000. The Manufacturers Life Insurance Company grew its stake in shares of Merit Medical Systems by 818.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock valued at $21,151,000 after buying an additional 248,140 shares in the last quarter. Comerica Bank acquired a new stake in shares of Merit Medical Systems in the third quarter valued at about $14,022,000. Finally, Westwood Holdings Group Inc. grew its stake in shares of Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after buying an additional 131,977 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $85.95 on Monday. The stock has a fifty day moving average price of $80.60 and a 200 day moving average price of $77.55. The stock has a market cap of $4.99 billion, a PE ratio of 49.40, a P/E/G ratio of 2.31 and a beta of 0.91. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $86.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03.

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