Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) have been assigned a consensus recommendation of "Buy" from the eight analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $73.50.
Several research firms recently commented on MMSI. Raymond James upped their price objective on Merit Medical Systems from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, October 27th. Canaccord Genuity Group cut Merit Medical Systems from a "buy" rating to a "hold" rating and reduced their target price for the company from $73.00 to $72.00 in a research note on Tuesday, December 20th. StockNews.com upgraded shares of Merit Medical Systems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, January 3rd. Canaccord Genuity Group increased their target price on shares of Merit Medical Systems from $69.00 to $73.00 in a report on Monday, November 7th. Finally, Piper Sandler increased their target price on shares of Merit Medical Systems from $70.00 to $73.00 in a report on Thursday, October 27th.
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Institutional Trading of Merit Medical Systems
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MinichMacGregor Wealth Management LLC purchased a new stake in Merit Medical Systems in the 4th quarter worth about $26,000. Ronald Blue Trust Inc. grew its stake in Merit Medical Systems by 157.4% in the 4th quarter. Ronald Blue Trust Inc. now owns 471 shares of the medical instruments supplier's stock worth $26,000 after acquiring an additional 288 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Merit Medical Systems by 148.4% during the second quarter. Lindbrook Capital LLC now owns 477 shares of the medical instruments supplier's stock valued at $26,000 after purchasing an additional 285 shares in the last quarter. CWM LLC boosted its stake in shares of Merit Medical Systems by 65.6% during the third quarter. CWM LLC now owns 593 shares of the medical instruments supplier's stock valued at $34,000 after purchasing an additional 235 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Merit Medical Systems during the first quarter valued at approximately $43,000. 95.38% of the stock is currently owned by institutional investors.
Merit Medical Systems Stock Up 1.1 %
Shares of MMSI opened at $70.23 on Monday. The company has a market capitalization of $4.00 billion, a PE ratio of 65.03, a PEG ratio of 2.26 and a beta of 1.01. Merit Medical Systems has a 12 month low of $50.46 and a 12 month high of $76.14. The stock's 50-day moving average price is $70.76 and its two-hundred day moving average price is $63.08. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.19.
Merit Medical Systems (NASDAQ:MMSI – Get Rating) last issued its earnings results on Wednesday, October 26th. The medical instruments supplier reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.11. Merit Medical Systems had a return on equity of 14.14% and a net margin of 5.43%. The business had revenue of $287.18 million during the quarter, compared to analyst estimates of $273.03 million. On average, analysts anticipate that Merit Medical Systems will post 2.57 EPS for the current 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, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.
Further Reading
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