Merit Medical Systems’ (MMSI) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a research report released on Monday, Benzinga reports. Piper Sandler currently has a $110.00 price target on the medical instruments supplier’s stock, up from their prior price target of $100.00.

Several other brokerages have also issued reports on MMSI. Barrington Research reiterated an outperform rating and set a $100.00 target price on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Robert W. Baird assumed coverage on shares of Merit Medical Systems in a research report on Friday, June 28th. They set an outperform rating and a $96.00 target price for the company. Needham & Company LLC lifted their target price on shares of Merit Medical Systems from $94.00 to $105.00 and gave the company a buy rating in a research report on Wednesday, August 28th. Baird R W upgraded shares of Merit Medical Systems to a strong-buy rating in a research report on Friday, June 28th. Finally, Bank of America lifted their target price on shares of Merit Medical Systems from $87.00 to $92.00 and gave the company a neutral rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Merit Medical Systems has an average rating of Buy and an average target price of $99.20.

Merit Medical Systems Price Performance

MMSI stock opened at $97.15 on Monday. The firm has a 50 day moving average of $90.00 and a 200-day moving average of $82.15. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $98.04. The firm has a market capitalization of $5.64 billion, a P/E ratio of 55.83, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87.

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

Insider Transactions at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Merit Medical Systems by 2.9% in the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock worth $362,000 after buying an additional 118 shares during the period. Renaissance Group LLC increased its stake in shares of Merit Medical Systems by 0.6% in the fourth quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock worth $1,863,000 after buying an additional 144 shares during the period. Xponance Inc. increased its stake in shares of Merit Medical Systems by 4.9% in the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after buying an additional 170 shares during the period. Entropy Technologies LP increased its stake in shares of Merit Medical Systems by 6.5% in the first quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock worth $251,000 after buying an additional 203 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 212 shares during the period. 99.66% of the stock is owned by hedge funds and other 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.