Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $109.11 Average Price Target from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have earned an average rating of “Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $109.11.

Several research firms have commented on MMSI. Robert W. Baird cut their price target on Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. initiated coverage on Merit Medical Systems in a research note on Friday, March 28th. They set an “overweight” rating and a $120.00 target price for the company. Raymond James dropped their target price on Merit Medical Systems from $116.00 to $108.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Needham & Company LLC raised their price objective on Merit Medical Systems from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $110.00 price target (up previously from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 400 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $95.61, for a total transaction of $38,244.00. Following the transaction, the chief executive officer now directly owns 1,045,628 shares in the company, valued at $99,972,493.08. This represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Floyd sold 3,515 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $94.16, for a total transaction of $330,972.40. Following the sale, the director now directly owns 4,880 shares in the company, valued at approximately $459,500.80. This represents a 41.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,415 shares of company stock worth $6,748,214 over the last three months. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Pictet Asset Management Holding SA lifted its holdings in Merit Medical Systems by 13.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the medical instruments supplier’s stock valued at $839,000 after acquiring an additional 1,049 shares during the last quarter. Lazard Asset Management LLC grew its position in Merit Medical Systems by 332.7% during the 4th quarter. Lazard Asset Management LLC now owns 4,682 shares of the medical instruments supplier’s stock worth $452,000 after purchasing an additional 3,600 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Merit Medical Systems in the 4th quarter valued at $48,926,000. Victory Capital Management Inc. increased its position in Merit Medical Systems by 32.1% during the 4th quarter. Victory Capital Management Inc. now owns 78,171 shares of the medical instruments supplier’s stock worth $7,561,000 after purchasing an additional 19,001 shares during the period. Finally, Group One Trading LLC acquired a new position in Merit Medical Systems during the fourth quarter worth about $77,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Trading Down 0.6%

Shares of MMSI opened at $92.97 on Monday. The stock’s 50-day moving average is $94.51 and its two-hundred day moving average is $99.59. The stock has a market cap of $5.49 billion, a PE ratio of 45.57, a P/E/G ratio of 2.34 and a beta of 0.66. Merit Medical Systems has a 12 month low of $80.02 and a 12 month high of $111.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business had revenue of $355.35 million for the quarter, compared to analysts’ expectations of $352.57 million. During the same period in the prior year, the firm earned $0.77 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts forecast that Merit Medical Systems will post 3.37 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.