Merit Medical Systems, Inc. (NASDAQ:MMSI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSIGet Free Report) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $107.70.

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group lifted their target price on Merit Medical Systems from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company raised Merit Medical Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $120.00 in a report on Wednesday, December 11th. Raymond James lifted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Robert W. Baird boosted their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a research note on Tuesday.

Get Our Latest Analysis on MMSI

Merit Medical Systems Price Performance

NASDAQ:MMSI opened at $102.07 on Friday. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The business’s 50-day simple moving average is $101.00 and its two-hundred day simple moving average is $95.77. The stock has a market cap of $5.95 billion, a PE ratio of 50.03, a P/E/G ratio of 2.15 and a beta of 0.85. Merit Medical Systems has a 52 week low of $70.70 and a 52 week high of $108.07.

Merit Medical Systems (NASDAQ:MMSIGet Free Report) last issued its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The firm had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Merit Medical Systems will post 3.36 EPS for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the completion of the transaction, the chief financial officer now owns 16,361 shares in the company, valued at $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of large investors have recently modified their holdings of the company. William Blair Investment Management LLC boosted its holdings in shares of Merit Medical Systems by 0.3% in the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after purchasing an additional 10,512 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in Merit Medical Systems by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock worth $226,236,000 after buying an additional 38,780 shares during the period. State Street Corp lifted its holdings in Merit Medical Systems by 0.7% during the third quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock worth $220,559,000 after buying an additional 15,098 shares during the period. FMR LLC lifted its holdings in Merit Medical Systems by 70.1% during the third quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after buying an additional 649,799 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Merit Medical Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,357,265 shares of the medical instruments supplier’s stock worth $134,165,000 after buying an additional 17,490 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

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.

Further Reading

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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