Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $93.00 Average Target Price from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSIGet Free Report) has received a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $93.00.

A number of analysts have recently issued reports on MMSI shares. Barrington Research lifted their price objective on shares of Merit Medical Systems from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Needham & Company LLC lifted their price target on shares of Merit Medical Systems from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Raymond James lifted their price target on shares of Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Canaccord Genuity Group lifted their price target on shares of Merit Medical Systems from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Piper Sandler lifted their price target on shares of Merit Medical Systems from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th.

Check Out Our Latest Stock Report on MMSI

Insider Transactions at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 6,480 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 12,007 shares in the company, valued at $887,917.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Raul Jr. Parra sold 6,480 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 12,007 shares in the company, valued at $887,917.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director F. Ann Millner sold 20,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the director now owns 29,960 shares of the company’s stock, valued at approximately $2,396,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,637 shares of company stock worth $5,351,673. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Group LLC grew its position in Merit Medical Systems by 0.6% in the 4th quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock valued at $1,863,000 after buying an additional 144 shares in the last quarter. Cim Investment Management Inc. lifted its holdings in Merit Medical Systems by 3.5% in the 1st quarter. Cim Investment Management Inc. now owns 4,381 shares of the medical instruments supplier’s stock valued at $324,000 after acquiring an additional 150 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Merit Medical Systems by 13.2% in the 1st quarter. First Horizon Advisors Inc. now owns 1,300 shares of the medical instruments supplier’s stock valued at $96,000 after acquiring an additional 152 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in Merit Medical Systems by 53.8% in the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 175 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Merit Medical Systems by 12.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,773 shares of the medical instruments supplier’s stock valued at $122,000 after acquiring an additional 194 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

Merit Medical Systems Trading Down 1.0 %

NASDAQ MMSI opened at $72.31 on Friday. Merit Medical Systems has a one year low of $62.58 and a one year high of $85.62. The company’s 50 day moving average price is $77.52 and its 200 day moving average price is $72.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.95 and a current ratio of 5.45. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.03 and a beta of 0.90.

Merit Medical Systems (NASDAQ:MMSIGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. The company had revenue of $324.52 million for the quarter, compared to analyst estimates of $320.66 million. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. On average, sell-side analysts predict that Merit Medical Systems will post 3.31 EPS for the current year.

About Merit Medical Systems

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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.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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