Merit Medical Systems (NASDAQ:MMSI) had its price target hoisted by equities research analysts at Piper Sandler from to in a note issued to investors on Tuesday, The Fly reports.
A number of other research firms have also recently issued reports on MMSI. Oppenheimer began coverage on Merit Medical Systems in a research report on Monday, September 23rd. They issued an “outperform” rating and a $40.00 price objective for the company. BidaskClub raised Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Barrington Research cut their price objective on Merit Medical Systems from $59.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Merit Medical Systems in a research report on Thursday, October 31st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price objective (down from $53.00) on shares of Merit Medical Systems in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.22.
Shares of MMSI traded up $3.75 during mid-day trading on Tuesday, reaching $38.40. The company’s stock had a trading volume of 1,464,591 shares, compared to its average volume of 1,009,177. Merit Medical Systems has a 1-year low of $19.50 and a 1-year high of $63.64. The stock has a market cap of $1.91 billion, a P/E ratio of 22.72, a PEG ratio of 2.63 and a beta of 1.14. The business has a 50-day simple moving average of $30.99 and a two-hundred day simple moving average of $35.01. The company has a current ratio of 2.88, a quick ratio of 1.47 and a debt-to-equity ratio of 0.53.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.17). Merit Medical Systems had a net margin of 1.94% and a return on equity of 9.23%. The business had revenue of $243.05 million during the quarter, compared to analyst estimates of $248.53 million. During the same period in the previous year, the business earned $0.47 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Research analysts anticipate that Merit Medical Systems will post 1.41 EPS for the current year.
In other news, CFO Raul Jr. Parra purchased 2,525 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average cost of $25.50 per share, with a total value of $64,387.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Enterprise Associates 14 New purchased 935,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $15.59 per share, with a total value of $14,576,650.00. Company insiders own 4.75% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in Merit Medical Systems by 20,825.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,674 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 1,666 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Merit Medical Systems by 803.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the medical instruments supplier’s stock worth $89,000 after purchasing an additional 2,610 shares during the last quarter. BB&T Corp lifted its holdings in Merit Medical Systems by 99.9% during the 3rd quarter. BB&T Corp now owns 6,825 shares of the medical instruments supplier’s stock worth $207,000 after purchasing an additional 3,411 shares during the last quarter. Wellington Shields & Co. LLC acquired a new stake in Merit Medical Systems during the 3rd quarter worth approximately $244,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Merit Medical Systems by 416.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,124 shares of the medical instruments supplier’s stock worth $246,000 after purchasing an additional 3,325 shares during the last quarter. 97.43% of the stock is owned by institutional investors and hedge funds.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.
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