Merit Medical Systems (NASDAQ:MMSI) had its price target raised by stock analysts at Piper Sandler from to in a research note issued to investors on Tuesday, The Fly reports.

Other analysts have also issued reports about the company. Wells Fargo & Co lowered Merit Medical Systems from an “equal weight” rating to an “underweight” rating and set a $26.00 price target on the stock. in a research note on Thursday, December 12th. Oppenheimer started coverage on Merit Medical Systems in a research note on Monday, September 23rd. They issued an “outperform” rating and a $40.00 price target on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price target (down from $53.00) on shares of Merit Medical Systems in a research note on Friday, September 20th. BidaskClub raised Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Barrington Research lowered their price target on Merit Medical Systems from $59.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $42.22.

Shares of NASDAQ:MMSI traded up $3.75 during trading on Tuesday, reaching $38.40. The stock had a trading volume of 1,464,591 shares, compared to its average volume of 1,009,177. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.47 and a current ratio of 2.88. The business has a fifty day moving average price of $30.99 and a 200-day moving average price of $35.01. The stock has a market cap of $1.91 billion, a PE ratio of 22.72, a PEG ratio of 2.63 and a beta of 1.14. Merit Medical Systems has a 1-year low of $19.50 and a 1-year high of $63.64.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.17). The firm had revenue of $243.05 million during the quarter, compared to analyst estimates of $248.53 million. Merit Medical Systems had a return on equity of 9.23% and a net margin of 1.94%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share. Sell-side analysts expect that Merit Medical Systems will post 1.41 earnings per share for the current year.

In related news, major shareholder Enterprise Associates 14 New acquired 935,000 shares of Merit Medical Systems stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $15.59 per share, for a total transaction of $14,576,650.00. Also, CFO Raul Jr. Parra acquired 2,525 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $25.50 per share, for a total transaction of $64,387.50. The disclosure for this purchase can be found here. Company insiders own 4.75% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MMSI. First Trust Advisors LP raised its position in Merit Medical Systems by 13.9% in the first quarter. First Trust Advisors LP now owns 83,324 shares of the medical instruments supplier’s stock valued at $5,152,000 after purchasing an additional 10,140 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Merit Medical Systems by 144.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 23,244 shares of the medical instruments supplier’s stock worth $1,380,000 after acquiring an additional 75,369 shares in the last quarter. Northern Trust Corp boosted its position in shares of Merit Medical Systems by 1.6% during the 2nd quarter. Northern Trust Corp now owns 743,050 shares of the medical instruments supplier’s stock worth $44,256,000 after acquiring an additional 12,052 shares in the last quarter. BlackRock Inc. boosted its position in shares of Merit Medical Systems by 6.2% during the 2nd quarter. BlackRock Inc. now owns 8,567,745 shares of the medical instruments supplier’s stock worth $510,294,000 after acquiring an additional 502,387 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Merit Medical Systems by 65.4% during the 2nd quarter. Invesco Ltd. now owns 971,691 shares of the medical instruments supplier’s stock worth $57,874,000 after acquiring an additional 384,332 shares in the last quarter. Hedge funds and other institutional investors own 97.43% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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The Fly

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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