Merit Medical Systems (NASDAQ:MMSI) Rating Increased to Buy at StockNews.com

Merit Medical Systems (NASDAQ:MMSI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other analysts have also issued reports about the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a research report on Monday, September 16th. Barrington Research reissued an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a research report on Friday, October 18th. Bank of America raised their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Baird R W upgraded shares of Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.82.

Merit Medical Systems Stock Up 0.1 %

Shares of MMSI opened at $96.00 on Friday. The firm has a fifty day moving average price of $96.11 and a 200-day moving average price of $87.05. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $5.59 billion, a P/E ratio of 48.00, a P/E/G ratio of 2.41 and a beta of 0.87. Merit Medical Systems has a 12-month low of $63.13 and a 12-month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. Equities research analysts expect that Merit Medical Systems will post 3.31 earnings per share for the current year.

Institutional Investors Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new stake in Merit Medical Systems during the 2nd quarter valued at about $29,000. DekaBank Deutsche Girozentrale purchased a new stake in Merit Medical Systems in the first quarter valued at approximately $44,000. USA Financial Formulas acquired a new position in Merit Medical Systems in the 3rd quarter worth approximately $59,000. Headlands Technologies LLC purchased a new position in Merit Medical Systems during the 1st quarter worth approximately $50,000. Finally, GAMMA Investing LLC lifted its stake in Merit Medical Systems by 142.3% during the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after acquiring an additional 488 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

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.