Merit Medical Systems (NASDAQ:MMSI) Price Target Increased to $125.00 by Analysts at Canaccord Genuity Group

Merit Medical Systems (NASDAQ:MMSI) had its price target hoisted by Canaccord Genuity Group from $102.00 to $125.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

A number of other research analysts also recently commented on the company. Piper Sandler increased their target price on Merit Medical Systems from $95.00 to $97.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. StockNews.com upgraded Merit Medical Systems from a hold rating to a buy rating in a research report on Thursday, June 27th. Baird R W upgraded Merit Medical Systems to a strong-buy rating in a research report on Friday, June 28th. Barrington Research raised their price target on Merit Medical Systems from $98.00 to $100.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird started coverage on Merit Medical Systems in a research note on Friday, June 28th. They issued an outperform rating and a $96.00 target price on the stock. One research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $96.20.

Merit Medical Systems Trading Up 1.0 %

Merit Medical Systems stock opened at $86.50 on Tuesday. The firm has a 50 day moving average of $81.10 and a 200 day moving average of $77.85. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 49.71, a P/E/G ratio of 2.40 and a beta of 0.88. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $87.44. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $315.57 million. During the same period in the prior year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Merit Medical Systems will post 3.33 earnings per share for the current year.

Insider Activity

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.85, for a total value of $613,875.00. Following the transaction, the chief operating officer now owns 14,819 shares in the company, valued at $1,212,935.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.85, for a total value of $613,875.00. Following the transaction, the chief operating officer now owns 14,819 shares in the company, valued at $1,212,935.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now owns 32,391 shares in the company, valued at approximately $2,753,235. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Group LLC lifted its holdings in shares of Merit Medical Systems by 0.6% during the fourth quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock worth $1,863,000 after purchasing an additional 144 shares during the period. Entropy Technologies LP lifted its holdings in shares of Merit Medical Systems by 6.5% during the first quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock worth $251,000 after purchasing an additional 203 shares during the period. Parallel Advisors LLC lifted its holdings 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 worth $30,000 after purchasing an additional 212 shares during the period. Diversified Trust Co raised its position in Merit Medical Systems by 3.0% during the third quarter. Diversified Trust Co now owns 10,150 shares of the medical instruments supplier’s stock valued at $701,000 after acquiring an additional 292 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its position in Merit Medical Systems by 10.3% during the first quarter. CreativeOne Wealth LLC now owns 4,003 shares of the medical instruments supplier’s stock valued at $303,000 after acquiring an additional 375 shares in the last quarter. Institutional investors and hedge funds 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.