Brokerages Set Price Target for Merit Medical Systems, Inc. (NASDAQ:MMSI) at $101.82

Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Your Free Report ) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $101.82.

MMSI has been the subject of several analyst reports. Robert W. Baird initiated coverage on Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective on the stock. Bank of America raised their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a research report on Monday, September 16th. Baird RW upgraded Merit Medical Systems to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Barrington Research upped their target price on Merit Medical Systems from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, September 20th.

Get the latest stock report on Merit Medical Systems

Institutional investors are weighing in on Merit Medical Systems

Hedge funds have recently modified their holdings of the company. Congress Asset Management Co. MA boosted its stake in Merit Medical Systems by 4,411.3% in the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after purchasing an additional 506,992 shares during the period. Point72 Asset Management LP boosted its stake in Merit Medical Systems by 147.2% in the 2nd quarter. Point72 Asset Management LP now owns 634,613 shares of the medical instruments supplier’s stock worth $54,545,000 after purchasing another 377,851 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Merit Medical Systems by 818.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock worth $21,151,000 after buying an additional 248,140 shares in the last quarter. FM Investments LLC purchased a new stake in shares of Merit Medical Systems in the second quarter valued at $12,550,000. Finally, Westwood Holdings Group Inc. raised its stake in Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after buying an additional 131,977 shares in the last quarter. 99.66% of shares are owned by institutional investors and hedge funds.

Merit Medical Systems price performance

Shares of MMSI stock opened at $95.63 on Wednesday. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $101.60. The stock’s 50-day moving average is $94.08, and its two-hundred-day moving average is $84.76. The firm has a market cap of $5.56 billion, a PE ratio of 54.96, a P/E/G ratio of 2.52 and a beta of 0.87. The company has a current ratio of 6.24, a quick ratio of 4.64, and a debt-to-equity ratio of 0.62.

Merit Medical Systems (NASDAQ:MMSI – Get Your Free Report ) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The company had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. research analysts anticipate that Merit Medical Systems will post 3.31 earnings per share for the current year.

Merit Medical Systems Company Profile

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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, angiography needles, sheaths, guidewires and safety products; peripheral intervention, including angiography, drainage, delivery systems and embolotherapy products; spine products such as spine augmentation, radiofrequency ablation and bone biopsy systems; oncological products; and cardiac intervention products such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis and intervention to treat various cardiac conditions.

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