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

Merit Medical Systems, Inc. (NASDAQ:MMSIGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $93.00.

Several analysts recently issued reports on the stock. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Oppenheimer lifted their price objective on Merit Medical Systems from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Piper Sandler increased their target price on Merit Medical Systems from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Canaccord Genuity Group lifted their price target on Merit Medical Systems from $102.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Barrington Research increased their price objective on Merit Medical Systems from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th.

Read Our Latest Report on MMSI

Insider Activity at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 6,480 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Merit Medical Systems news, insider Joseph Wright sold 25,000 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the sale, the insider now directly owns 42,223 shares of the company’s stock, valued at $3,195,436.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Raul Jr. Parra sold 6,480 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at $887,917.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,637 shares of company stock worth $5,351,673. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Merit Medical Systems

Several institutional investors have recently bought and sold shares of MMSI. Renaissance Group LLC lifted its holdings in shares of Merit Medical Systems by 0.6% during the fourth quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock valued at $1,863,000 after acquiring an additional 144 shares during the period. Cim Investment Management Inc. lifted its holdings in Merit Medical Systems by 3.5% during the 1st quarter. Cim Investment Management Inc. now owns 4,381 shares of the medical instruments supplier’s stock valued at $324,000 after purchasing an additional 150 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Merit Medical Systems by 13.2% in the first quarter. First Horizon Advisors Inc. now owns 1,300 shares of the medical instruments supplier’s stock valued at $96,000 after buying an additional 152 shares in the last quarter. Belpointe Asset Management LLC grew its stake in Merit Medical Systems by 53.8% during the first quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 175 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Merit Medical Systems by 12.3% during the third quarter. Tower Research Capital LLC TRC now owns 1,773 shares of the medical instruments supplier’s stock worth $122,000 after buying an additional 194 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Merit Medical Systems Trading Down 0.1 %

Shares of NASDAQ:MMSI opened at $71.86 on Friday. The company has a current ratio of 5.45, a quick ratio of 3.95 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $4.16 billion, a PE ratio of 44.36, a P/E/G ratio of 2.03 and a beta of 0.90. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $85.62. The firm has a fifty day moving average price of $78.10 and a 200 day moving average price of $72.45.

Merit Medical Systems (NASDAQ:MMSIGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.04. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The company had revenue of $324.52 million during the quarter, compared to the consensus estimate of $320.66 million. During the same quarter in the prior year, the company posted $0.79 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. Analysts expect that Merit Medical Systems will post 3.31 EPS for the current fiscal 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, 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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