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

StockNews.com upgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other analysts have also issued reports on MMSI. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research note on Monday, September 16th. Barrington Research restated an “outperform” rating and issued a $114.00 price objective on shares of Merit Medical Systems in a report on Friday, October 18th. Robert W. Baird started coverage on Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective on the stock. Wells Fargo & Company raised their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.82.

Merit Medical Systems Stock Up 0.6 %

MMSI opened at $95.90 on Friday. 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 firm has a market cap of $5.57 billion, a P/E ratio of 55.11, a PEG ratio of 2.41 and a beta of 0.87. Merit Medical Systems has a 52 week low of $65.46 and a 52 week high of $101.60. The business’s fifty day simple moving average is $96.30 and its 200 day simple moving average is $87.57.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new position in Merit Medical Systems in the second quarter valued at about $29,000. DekaBank Deutsche Girozentrale acquired a new position in Merit Medical Systems in the 1st quarter valued at approximately $44,000. Headlands Technologies LLC acquired a new position in Merit Medical Systems in the 1st quarter valued at approximately $50,000. USA Financial Formulas acquired a new position in Merit Medical Systems in the 3rd quarter valued at approximately $59,000. Finally, EntryPoint Capital LLC grew its stake in shares of Merit Medical Systems by 2,666.7% in the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after purchasing an additional 880 shares during the period. Hedge funds and other institutional investors 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.