Merit Medical Systems (NASDAQ:MMSI) Now Covered by Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of Merit Medical Systems (NASDAQ:MMSI) in a report published on Friday morning, MarketBeat reports. The brokerage issued an outperform rating and a $96.00 target price on the medical instruments supplier’s stock.

A number of other research firms also recently issued reports on MMSI. Barrington Research lifted their price objective on shares of Merit Medical Systems from $98.00 to $100.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Canaccord Genuity Group dropped their price objective on shares of Merit Medical Systems from $112.00 to $102.00 and set a buy rating for the company in a report on Wednesday, May 1st. Needham & Company LLC lowered their price target on shares of Merit Medical Systems from $88.00 to $85.00 and set a buy rating for the company in a research note on Wednesday, May 1st. StockNews.com raised shares of Merit Medical Systems from a hold rating to a buy rating in a research note on Thursday. Finally, CL King assumed coverage on shares of Merit Medical Systems in a research note on Thursday, April 11th. They issued a buy rating and a $88.00 price target for the company. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $93.10.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $85.95 on Friday. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $86.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. The company has a market capitalization of $4.99 billion, a P/E ratio of 49.40, a P/E/G ratio of 2.33 and a beta of 0.91. The company has a fifty day moving average of $80.60 and a 200-day moving average of $77.55.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company had revenue of $323.51 million during the quarter, compared to the consensus estimate of $315.57 million. During the same period in the previous year, the firm posted $0.64 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that Merit Medical Systems will post 3.33 EPS for the current fiscal year.

Insider Activity

In other news, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $81.85, for a total transaction of $613,875.00. Following the completion of the transaction, the chief operating officer now directly owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Conestoga Capital Advisors LLC raised its stake in Merit Medical Systems by 1.0% in the first quarter. Conestoga Capital Advisors LLC now owns 2,174,483 shares of the medical instruments supplier’s stock worth $164,717,000 after buying an additional 22,545 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Merit Medical Systems by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after buying an additional 41,065 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after buying an additional 131,977 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock worth $63,543,000 after buying an additional 22,077 shares in the last quarter. Finally, Channing Capital Management LLC raised its stake in Merit Medical Systems by 2.8% in the fourth quarter. Channing Capital Management LLC now owns 728,188 shares of the medical instruments supplier’s stock worth $55,313,000 after buying an additional 20,031 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Company Profile

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.