Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $109.00

by · The Markets Daily

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

Several other analysts have also issued reports on MMSI. Barrington Research reaffirmed an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research note on Friday, October 18th. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 target price on shares of Merit Medical Systems in a research report on Monday, September 16th. Piper Sandler restated an “overweight” rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.36.

View Our Latest Report on Merit Medical Systems

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI 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 company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 4.64. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.45 and a beta of 0.89. Merit Medical Systems has a one year low of $65.46 and a one year high of $101.60.

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

Hedge Funds Weigh In On Merit Medical Systems

Several hedge funds have recently made changes to their positions in MMSI. Norden Group LLC bought a new stake in Merit Medical Systems in the first quarter valued at $293,000. Sequoia Financial Advisors LLC purchased a new position in shares of Merit Medical Systems during the first quarter valued at about $336,000. BNP Paribas Financial Markets increased its position in shares of Merit Medical Systems by 55.3% during the first quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock valued at $4,011,000 after buying an additional 18,863 shares during the period. Fidelis Capital Partners LLC bought a new position in Merit Medical Systems in the first quarter worth about $90,000. Finally, FORA Capital LLC purchased a new stake in Merit Medical Systems in the first quarter worth about $577,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Company Profile

(Get Free Report)

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.

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