Merit Medical Systems (NASDAQ:MMSI – Get Rating) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Tuesday.
Several other equities research analysts have also recently commented on MMSI. Canaccord Genuity Group boosted their target price on Merit Medical Systems from $69.00 to $73.00 in a report on Monday, November 7th. TheStreet upgraded shares of Merit Medical Systems from a "c+" rating to a "b-" rating in a research report on Friday, September 16th. Raymond James lifted their price target on shares of Merit Medical Systems from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, October 27th. Canaccord Genuity Group lowered shares of Merit Medical Systems from a "buy" rating to a "hold" rating and decreased their price target for the stock from $73.00 to $72.00 in a research report on Tuesday, December 20th. Finally, Piper Sandler lifted their price objective on shares of Merit Medical Systems from $70.00 to $73.00 in a research report on Thursday, October 27th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $73.50.
Get Merit Medical Systems alerts:Merit Medical Systems Price Performance
Shares of NASDAQ:MMSI opened at $70.62 on Tuesday. Merit Medical Systems has a 12 month low of $50.46 and a 12 month high of $76.14. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 65.39, a PEG ratio of 2.50 and a beta of 1.01. The stock's 50 day moving average price is $69.92 and its 200 day moving average price is $61.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.35 and a quick ratio of 1.19.
Merit Medical Systems (NASDAQ:MMSI – Get Rating) last announced its earnings results on Wednesday, October 26th. The medical instruments supplier reported $0.64 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $287.18 million for the quarter, compared to analysts' expectations of $273.03 million. Equities research analysts anticipate that Merit Medical Systems will post 2.57 earnings per share for the current fiscal year.Hedge Funds Weigh In On Merit Medical Systems
Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in Merit Medical Systems by 746.0% during the second quarter. SG Americas Securities LLC now owns 27,013 shares of the medical instruments supplier's stock worth $1,466,000 after acquiring an additional 23,820 shares in the last quarter. Rhumbline Advisers increased its holdings in Merit Medical Systems by 8.8% during the second quarter. Rhumbline Advisers now owns 143,882 shares of the medical instruments supplier's stock worth $7,808,000 after buying an additional 11,616 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in Merit Medical Systems by 1.4% during the second quarter. Maryland State Retirement & Pension System now owns 20,671 shares of the medical instruments supplier's stock worth $1,122,000 after purchasing an additional 295 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Merit Medical Systems by 17.5% in the second quarter. Nisa Investment Advisors LLC now owns 4,337 shares of the medical instruments supplier's stock valued at $235,000 after acquiring an additional 647 shares during the period. Finally, M&T Bank Corp lifted its position in Merit Medical Systems by 67.3% during the second quarter. M&T Bank Corp now owns 26,191 shares of the medical instruments supplier's stock valued at $1,422,000 after purchasing an additional 10,535 shares during the last quarter. 95.38% of the stock is currently owned by institutional investors and hedge funds.
About Merit Medical Systems
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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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