Brokerages Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Target Price at $92.78

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $92.78.

A number of brokerages have recently commented on MMSI. Piper Sandler boosted their price target on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Barrington Research upped their price target on Merit Medical Systems from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Oppenheimer lifted their price objective on shares of Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Canaccord Genuity Group reduced their target price on shares of Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, CL King assumed coverage on shares of Merit Medical Systems in a research note on Thursday, April 11th. They issued a “buy” rating and a $88.00 price target on the stock.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $80.11 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $85.62. The business has a 50 day simple moving average of $74.24 and a 200 day simple moving average of $74.50. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 46.04, a PEG ratio of 2.20 and a beta of 0.91.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. The company had revenue of $323.51 million during the quarter, compared to the consensus estimate of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Analysts anticipate that Merit Medical Systems will post 3.33 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the completion of the transaction, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Raul Jr. Parra sold 6,480 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at $887,917.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the sale, the director now directly owns 19,257 shares of the company’s stock, valued at approximately $1,464,109.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,637 shares of company stock valued at $3,751,673. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MMSI. Trillium Asset Management LLC grew its position in shares of Merit Medical Systems by 1.5% in the first quarter. Trillium Asset Management LLC now owns 112,336 shares of the medical instruments supplier’s stock valued at $8,509,000 after purchasing an additional 1,649 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Merit Medical Systems by 36.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,144 shares of the medical instruments supplier’s stock valued at $1,638,000 after buying an additional 5,915 shares in the last quarter. Entropy Technologies LP increased its position in Merit Medical Systems by 6.5% during the 1st quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock worth $251,000 after buying an additional 203 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Merit Medical Systems by 7.4% during the first quarter. ProShare Advisors LLC now owns 11,484 shares of the medical instruments supplier’s stock worth $870,000 after buying an additional 790 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Merit Medical Systems in the 1st quarter worth about $50,000. 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.