Piper Sandler Issues Positive Forecast for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI) had its price target hoisted by stock analysts at Piper Sandler from $110.00 to $114.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical instruments supplier’s stock. Piper Sandler’s price objective would indicate a potential upside of 10.79% from the stock’s current price.

A number of other brokerages have also issued reports on MMSI. Needham & Company LLC reiterated a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a report on Tuesday, January 14th. Raymond James boosted their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Wells Fargo & Company upgraded Merit Medical Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $120.00 in a report on Wednesday, December 11th. Robert W. Baird upped their price target on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.10.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $102.90 on Tuesday. The stock has a market cap of $6.00 billion, a PE ratio of 50.44, a P/E/G ratio of 2.30 and a beta of 0.85. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $100.98 and its two-hundred day moving average price is $96.15. Merit Medical Systems has a 12-month low of $70.70 and a 12-month high of $108.07.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The company had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. During the same period in the prior year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts expect that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the sale, the director now owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. The trade was a 27.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the sale, the chief financial officer now owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of large investors have recently bought and sold shares of the company. Tidal Investments LLC lifted its position in shares of Merit Medical Systems by 1.0% during the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock valued at $1,028,000 after buying an additional 104 shares during the last quarter. American Century Companies Inc. lifted its holdings in Merit Medical Systems by 2.9% during the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after purchasing an additional 118 shares during the last quarter. Xponance Inc. boosted its position in Merit Medical Systems by 4.9% during the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after purchasing an additional 170 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Merit Medical Systems by 0.6% in the third quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock worth $2,830,000 after purchasing an additional 170 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Merit Medical Systems by 2.6% in the third quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock valued at $735,000 after purchasing an additional 187 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

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.