Merit Medical Systems, Inc. (NASDAQ:MMSI) Given Average Rating of “Moderate Buy” by Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $101.82.

Several equities analysts recently commented on MMSI shares. Bank of America increased their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Barrington Research reiterated an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday.

Institutional Investors Weigh In On Merit Medical Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Smith Group Asset Management LLC acquired a new stake in shares of Merit Medical Systems during the 3rd quarter worth approximately $550,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Merit Medical Systems during the 3rd quarter valued at approximately $325,000. CWC Advisors LLC. purchased a new position in shares of Merit Medical Systems during the 3rd quarter valued at approximately $437,000. Silver Oak Securities Incorporated purchased a new position in shares of Merit Medical Systems during the 3rd quarter valued at approximately $405,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of Merit Medical Systems during the 3rd quarter valued at approximately $309,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $96.00 on Friday. The firm has a market capitalization of $5.59 billion, a P/E ratio of 48.00, a PEG ratio of 2.41 and a beta of 0.87. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $96.11 and a 200 day moving average price of $87.15. Merit Medical Systems has a 52 week low of $63.13 and a 52 week high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The firm had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. Sell-side analysts expect that Merit Medical Systems will post 3.31 EPS for the current year.

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.