StockNews.com upgraded shares of Merit Medical Systems (NASDAQ:MMSI – Get Rating) from a buy rating to a strong-buy rating in a report released on Tuesday morning.
Other equities research analysts also recently issued reports about the stock. Raymond James raised their target price on shares of 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 downgraded shares of Merit Medical Systems from a buy rating to a hold rating and lowered their target price for the company from $73.00 to $72.00 in a research note on Tuesday, December 20th. TheStreet raised shares of Merit Medical Systems from a c+ rating to a b- rating in a report on Friday, September 16th. Piper Sandler raised their price target on shares of Merit Medical Systems from $70.00 to $73.00 in a report on Thursday, October 27th. Finally, Canaccord Genuity Group raised their price target on shares of Merit Medical Systems from $69.00 to $73.00 in a report on Monday, November 7th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of Buy and a consensus price target of $73.50.
Get Merit Medical Systems alerts:Merit Medical Systems Price Performance
NASDAQ MMSI opened at $70.42 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.35. The firm's 50 day moving average price is $70.42 and its 200-day moving average price is $61.85. Merit Medical Systems has a 52-week low of $50.46 and a 52-week high of $76.14. The company has a market cap of $4.01 billion, a PE ratio of 65.20, a P/E/G ratio of 2.24 and a beta of 1.01.
Merit Medical Systems (NASDAQ:MMSI – Get Rating) last announced its earnings results on Wednesday, October 26th. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.11. The company had revenue of $287.18 million during the quarter, compared to the consensus estimate of $273.03 million. Merit Medical Systems had a net margin of 5.43% and a return on equity of 14.14%. Sell-side analysts forecast that Merit Medical Systems will post 2.57 EPS for the current fiscal year.Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in MMSI. BlackRock Inc. raised its holdings in shares of Merit Medical Systems by 6.8% during the third quarter. BlackRock Inc. now owns 9,704,654 shares of the medical instruments supplier's stock worth $548,409,000 after purchasing an additional 617,129 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Merit Medical Systems by 6.0% during the third quarter. Vanguard Group Inc. now owns 6,700,655 shares of the medical instruments supplier's stock worth $378,653,000 after purchasing an additional 377,858 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Merit Medical Systems by 61.4% during the third quarter. Bank of New York Mellon Corp now owns 950,734 shares of the medical instruments supplier's stock worth $53,727,000 after purchasing an additional 361,635 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Merit Medical Systems by 48.4% during the second quarter. Eagle Asset Management Inc. now owns 712,135 shares of the medical instruments supplier's stock worth $38,647,000 after purchasing an additional 232,211 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in Merit Medical Systems in the third quarter valued at $12,592,000. Hedge funds and other institutional investors own 95.38% of the company's stock.
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.
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