Merit Medical Systems Price Target Cut to $16.00 by Analysts at Noble Financial (MMSI)
Equities research analysts at Noble Financial cut their target price on shares of Merit Medical Systems (NASDAQ:MMSI) from $19.00 to $16.00 in a research note issued to investors on Thursday. Noble Financial’s target price indicates a potential upside of 24.03% from the company’s current price.
Separately, analysts at Raymond James downgraded shares of Merit Medical Systems from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday. They now have a $16.00 price target on the stock, down previously from $19.00.
Merit Medical Systems (NASDAQ:MMSI) traded up 0.47% on Thursday, hitting $12.90. 394,687 shares of the company’s stock traded hands. Merit Medical Systems has a 52-week low of $11.41 and a 52-week high of $17.08. The stock’s 50-day moving average is $14.62 and its 200-day moving average is $14.36. The company has a market cap of $555.5 million and a P/E ratio of 29.45.
Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Tuesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.02. The company had revenue of $128.87 million for the quarter, compared to the consensus estimate of $121.40 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts expect that Merit Medical Systems will post $0.66 EPS for the current fiscal year.
Merit Medical Systems, Inc (NASDAQ:MMSI) designs, develops, manufactures and markets medical devices used in interventional and diagnostic procedures.
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