Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $109.11 Consensus Target Price from Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have earned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $109.11.

MMSI has been the subject of several recent analyst reports. Canaccord Genuity Group set a $112.00 target price on shares of Merit Medical Systems and gave the stock a “buy” rating in a research note on Wednesday, May 21st. Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price (up previously from $106.00) on shares of Merit Medical Systems in a research note on Friday, May 23rd. Needham & Company LLC upped their target price on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. began coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They issued an “overweight” rating and a $120.00 target price for the company. Finally, Wells Fargo & Company restated an “overweight” rating and set a $108.00 price objective (up previously from $106.00) on shares of Merit Medical Systems in a report on Wednesday, May 21st.

Insider Buying and Selling

In other news, Director Michael R. Mcdonnell sold 1,750 shares of Merit Medical Systems stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $94.51, for a total value of $165,392.50. Following the completion of the transaction, the director now owns 6,395 shares in the company, valued at $604,391.45. This trade represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director F. Ann Millner sold 21,250 shares of Merit Medical Systems stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $96.47, for a total transaction of $2,049,987.50. Following the completion of the transaction, the director now owns 34,543 shares of the company’s stock, valued at $3,332,363.21. The trade was a 38.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,015 shares of company stock worth $6,709,970. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Merit Medical Systems by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier’s stock worth $643,058,000 after purchasing an additional 63,314 shares in the last quarter. FMR LLC boosted its position in shares of Merit Medical Systems by 31.6% in the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier’s stock valued at $200,833,000 after acquiring an additional 499,193 shares during the period. Invesco Ltd. boosted its position in shares of Merit Medical Systems by 16.4% in the first quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier’s stock valued at $188,934,000 after acquiring an additional 251,821 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Merit Medical Systems by 8.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,766,711 shares of the medical instruments supplier’s stock valued at $186,759,000 after acquiring an additional 133,465 shares during the period. Finally, Maverick Capital Ltd. bought a new position in shares of Merit Medical Systems in the first quarter valued at approximately $134,517,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $94.40 on Monday. Merit Medical Systems has a 1 year low of $80.02 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 46.27, a PEG ratio of 2.34 and a beta of 0.66. The company has a fifty day moving average price of $94.40 and a 200-day moving average price of $99.75.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.11. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The firm had revenue of $355.35 million during the quarter, compared to analyst estimates of $352.57 million. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

Merit Medical Systems Company Profile

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.