Merit Medical Systems (NASDAQ:MMSI) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reissued their overweight rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a report released on Monday morning, Benzinga reports. They currently have a $110.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $100.00.

A number of other analysts also recently weighed in on the stock. Bank of America upped their target price on shares of Merit Medical Systems from $87.00 to $92.00 and gave the stock a neutral rating in a research report on Monday, August 5th. Canaccord Genuity Group upped their target price on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a buy rating in a research report on Tuesday, July 2nd. Baird R W raised shares of Merit Medical Systems to a strong-buy rating in a research report on Friday, June 28th. 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, Needham & Company LLC upped their target price on shares of Merit Medical Systems from $94.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Merit Medical Systems currently has a consensus rating of Buy and a consensus price target of $99.20.

Merit Medical Systems Stock Up 0.4 %

Shares of Merit Medical Systems stock opened at $97.15 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. The company’s fifty day simple moving average is $90.00 and its two-hundred day simple moving average is $82.15. The company has a market cap of $5.64 billion, a P/E ratio of 55.83, a PEG ratio of 2.51 and a beta of 0.87. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $98.04.

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

Insider Activity

In other news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the sale, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of institutional investors have recently made changes to their positions in the stock. Truist Financial Corp purchased a new stake in shares of Merit Medical Systems during the 2nd quarter valued at about $795,000. Creative Planning boosted its holdings in shares of Merit Medical Systems by 34.9% in the second quarter. Creative Planning now owns 15,020 shares of the medical instruments supplier’s stock worth $1,291,000 after buying an additional 3,887 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Merit Medical Systems in the second quarter worth approximately $756,000. AQR Capital Management LLC boosted its holdings in shares of Merit Medical Systems by 36.1% in the second quarter. AQR Capital Management LLC now owns 11,043 shares of the medical instruments supplier’s stock worth $949,000 after buying an additional 2,931 shares during the last quarter. Finally, Point72 Europe London LLP boosted its holdings in shares of Merit Medical Systems by 162.9% in the second quarter. Point72 Europe London LLP now owns 147,500 shares of the medical instruments supplier’s stock worth $12,678,000 after buying an additional 91,400 shares during the last quarter. Hedge funds and other institutional investors 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.