Robert W. Baird Issues Positive Forecast for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI) had its price objective hoisted by Robert W. Baird from $107.00 to $109.00 in a report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the medical instruments supplier’s stock.

Several other analysts also recently weighed in on MMSI. Bank of America upped their price target on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research report on Monday, September 16th. Barrington Research reissued an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a research report on Friday, October 18th. Finally, Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.36.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $98.80 on Thursday. The company’s fifty day moving average price is $96.60 and its 200-day moving average price is $87.99. The stock has a market cap of $5.76 billion, a PE ratio of 48.43, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The company has a current ratio of 5.36, a quick ratio of 4.64 and a debt-to-equity ratio of 0.57. Merit Medical Systems has a 12 month low of $65.46 and a 12 month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Merit Medical Systems’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Merit Medical Systems will post 3.36 EPS for the current fiscal year.

Institutional Trading of Merit Medical Systems

Large investors have recently made changes to their positions in the stock. Atria Investments Inc lifted its position in Merit Medical Systems by 25.5% during the third quarter. Atria Investments Inc now owns 10,461 shares of the medical instruments supplier’s stock valued at $1,034,000 after purchasing an additional 2,127 shares during the period. Impax Asset Management Group plc purchased a new stake in Merit Medical Systems during the 3rd quarter valued at $11,860,000. QRG Capital Management Inc. lifted its holdings in shares of Merit Medical Systems by 16.9% during the 3rd quarter. QRG Capital Management Inc. now owns 8,572 shares of the medical instruments supplier’s stock valued at $847,000 after buying an additional 1,240 shares during the period. Van ECK Associates Corp purchased a new position in shares of Merit Medical Systems in the 3rd quarter worth $718,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Merit Medical Systems by 32.7% in the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after acquiring an additional 260 shares during the period. 99.66% of the stock is currently owned by institutional investors.

About Merit Medical Systems

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.