Wells Fargo & Company Raises Merit Medical Systems (NASDAQ:MMSI) Price Target to $103.00

Merit Medical Systems (NASDAQ:MMSI) had its target price lifted by Wells Fargo & Company from $85.00 to $103.00 in a research report sent to investors on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical instruments supplier’s stock.

Several other equities analysts also recently commented on MMSI. Robert W. Baird initiated coverage on Merit Medical Systems in a research report on Friday, June 28th. They set an outperform rating and a $96.00 target price for the company. Baird R W upgraded shares of Merit Medical Systems to a strong-buy rating in a research note on Friday, June 28th. Needham & Company LLC reaffirmed a buy rating and issued a $105.00 target price on shares of Merit Medical Systems in a report on Monday. Canaccord Genuity Group lifted their price target on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a buy rating in a report on Tuesday, July 2nd. Finally, Barrington Research reaffirmed an outperform rating and set a $100.00 price objective on shares of Merit Medical Systems in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $100.55.

Merit Medical Systems Trading Up 1.5 %

Shares of MMSI stock opened at $100.23 on Monday. The firm has a fifty day moving average of $91.46 and a 200-day moving average of $82.94. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 57.60, a P/E/G ratio of 2.53 and a beta of 0.87. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $101.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The firm had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. On average, equities research analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at $2,753,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in shares of Merit Medical Systems in the 2nd quarter worth $29,000. Parallel Advisors LLC lifted its stake in Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 212 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Merit Medical Systems during the first quarter worth about $44,000. Headlands Technologies LLC acquired a new position in shares of Merit Medical Systems during the 1st quarter worth about $50,000. Finally, EntryPoint Capital LLC raised its position in shares of Merit Medical Systems by 2,666.7% in the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after acquiring an additional 880 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.