Merit Medical Systems’ (MMSI) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a report published on Monday, Benzinga reports. Needham & Company LLC currently has a $105.00 price target on the medical instruments supplier’s stock.

Other research analysts have also recently issued research reports about the company. Baird R W upgraded Merit Medical Systems to a strong-buy rating in a research note on Friday, June 28th. Canaccord Genuity Group increased their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Piper Sandler restated an overweight rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Barrington Research reaffirmed an outperform rating and issued a $100.00 target price on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Finally, StockNews.com raised shares of Merit Medical Systems from a hold rating to a buy rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $100.55.

Merit Medical Systems Stock Up 1.5 %

Shares of Merit Medical Systems stock opened at $100.23 on Monday. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $101.25. The company has a market cap of $5.82 billion, a P/E ratio of 57.60, a PEG ratio of 2.53 and a beta of 0.87. The company’s fifty day simple moving average is $91.46 and its two-hundred day simple moving average is $82.94.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The company had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. Research analysts anticipate that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Activity

In related news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MMSI. William Blair Investment Management LLC raised its position in Merit Medical Systems by 0.3% in the 2nd quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock worth $262,445,000 after buying an additional 10,512 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Merit Medical Systems by 3.5% during the second quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock valued at $193,419,000 after purchasing an additional 75,885 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Merit Medical Systems by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock valued at $99,258,000 after purchasing an additional 41,065 shares during the period. Westwood Holdings Group Inc. boosted its holdings in 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 worth $66,685,000 after purchasing an additional 131,977 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Merit Medical Systems by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock worth $63,543,000 after purchasing an additional 22,077 shares during the period. 99.66% of the stock is 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.