Merit Medical Systems (NASDAQ:MMSI) PT Raised to $100.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective raised by equities research analysts at Barrington Research from $98.00 to $100.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price objective would indicate a potential upside of 26.63% from the stock’s current price. Barrington Research also issued estimates for Merit Medical Systems’ FY2024 earnings at $3.35 EPS and Q2 2025 earnings at $0.97 EPS.

Other equities research analysts have also recently issued reports about the stock. Bank of America initiated coverage on shares of Merit Medical Systems in a report on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 price target for the company. Canaccord Genuity Group increased their price target on Merit Medical Systems from $102.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Raymond James boosted their price objective on Merit Medical Systems from $84.00 to $89.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Needham & Company LLC cut their target price on Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Piper Sandler lifted their price target on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.78.

Merit Medical Systems Trading Up 2.5 %

Shares of NASDAQ:MMSI traded up $1.95 during trading on Wednesday, reaching $78.97. The stock had a trading volume of 263,069 shares, compared to its average volume of 488,769. Merit Medical Systems has a 52 week low of $62.58 and a 52 week high of $85.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.95 and a current ratio of 6.03. The firm’s fifty day moving average is $74.19 and its 200 day moving average is $74.10. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 45.39, a P/E/G ratio of 2.14 and a beta of 0.91.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. The firm had revenue of $323.51 million during the quarter, compared to analyst estimates of $315.57 million. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. As a group, equities analysts forecast that Merit Medical Systems will post 3.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Raul Jr. Parra sold 6,480 shares of the stock in a transaction that occurred on 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 can be accessed through this hyperlink. In other news, CFO Raul Jr. Parra sold 6,480 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Wright sold 25,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 42,223 shares of the company’s stock, valued at approximately $3,195,436.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,637 shares of company stock valued at $3,751,673. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several institutional investors have recently made changes to their positions in MMSI. Valued Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems during the 4th quarter valued at $29,000. Parallel Advisors LLC increased its position in shares of Merit Medical Systems by 114.6% during the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 212 shares during the period. Tompkins Financial Corp purchased a new stake in shares of Merit Medical Systems in the fourth quarter worth about $38,000. Headlands Technologies LLC bought a new position in shares of Merit Medical Systems in the third quarter valued at approximately $41,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Merit Medical Systems during the third quarter valued at approximately $67,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

About Merit Medical Systems

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.