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

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $83.43.

MMSI has been the topic of several research reports. StockNews.com initiated coverage on Merit Medical Systems in a report on Thursday, May 18th. They set a “buy” rating on the stock. Piper Sandler raised their target price on shares of Merit Medical Systems from $77.00 to $85.00 in a research report on Thursday, April 27th. Needham & Company LLC raised their target price on shares of Merit Medical Systems from $84.00 to $90.00 in a research report on Thursday, April 27th. Barrington Research raised their price target on Merit Medical Systems from $78.00 to $90.00 in a report on Thursday, April 27th. Finally, Raymond James raised their price target on Merit Medical Systems from $88.00 to $93.00 in a report on Monday, May 8th.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $80.95 on Friday. The company’s 50 day simple moving average is $78.28 and its 200-day simple moving average is $73.05. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 54.70, a price-to-earnings-growth ratio of 2.54 and a beta of 1.00. Merit Medical Systems has a 1 year low of $50.46 and a 1 year high of $85.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.24 and a current ratio of 2.58.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The medical instruments supplier reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. The business had revenue of $297.57 million during the quarter, compared to analyst estimates of $280.47 million. Merit Medical Systems had a net margin of 7.22% and a return on equity of 14.55%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. As a group, equities research analysts expect that Merit Medical Systems will post 2.89 earnings per share for the current year.

Insider Activity

In related news, Director Lynne Ward sold 11,585 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $66.71, for a total transaction of $772,835.35. Following the sale, the director now directly owns 5,964 shares in the company, valued at approximately $397,858.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Lynne Ward sold 11,585 shares of Merit Medical Systems stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $66.71, for a total transaction of $772,835.35. Following the sale, the director now owns 5,964 shares of the company’s stock, valued at approximately $397,858.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Neil Peterson sold 8,000 shares of Merit Medical Systems stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $68.75, for a total transaction of $550,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,068 shares of company stock valued at $4,341,157. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of MMSI. Cerity Partners LLC bought a new stake in shares of Merit Medical Systems in the 1st quarter valued at approximately $1,082,000. MinichMacGregor Wealth Management LLC bought a new position in shares of Merit Medical Systems during the fourth quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $26,000. Ronald Blue Trust Inc. lifted its holdings in shares of Merit Medical Systems by 157.4% in the 4th quarter. Ronald Blue Trust Inc. now owns 471 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 288 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its position in Merit Medical Systems by 53.8% during the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 175 shares during the period. Institutional investors own 95.38% of the company’s stock.

About Merit Medical Systems

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Merit Medical Systems, Inc engages in the manufacture and marketing of proprietary disposable medical devices. It operates through the Cardiovascular and Endoscopy segments. The Cardiovascular segment consists of peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care product groups.