Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $103.36 Consensus Price Target from Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have earned an average rating of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $103.36.

A number of equities research analysts have weighed in on MMSI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Barrington Research reaffirmed an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Finally, StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd.

Merit Medical Systems Stock Down 0.3 %

MMSI stock opened at $103.66 on Thursday. Merit Medical Systems has a twelve month low of $65.46 and a twelve month high of $106.87. The company has a market cap of $6.04 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 2.60 and a beta of 0.89. The business’s 50-day simple moving average is $98.91 and its 200 day simple moving average is $91.41. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data 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. The company had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. On average, research analysts anticipate that Merit Medical Systems will post 3.36 earnings per share for the current year.

Insiders Place Their Bets

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the transaction, the chief financial officer now owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. This represents a 64.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now directly owns 32,391 shares in the company, valued at approximately $3,289,306.05. This represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MMSI. FMR LLC lifted its stake in shares of Merit Medical Systems by 70.1% in the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after purchasing an additional 649,799 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Merit Medical Systems by 147.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after purchasing an additional 377,851 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Merit Medical Systems by 218.9% in the 3rd quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier’s stock valued at $44,029,000 after purchasing an additional 305,800 shares during the period. Iron Triangle Partners LP acquired a new position in shares of Merit Medical Systems in the 3rd quarter valued at $25,004,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Merit Medical Systems in the 3rd quarter valued at $21,156,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.