Merit Medical Systems (NASDAQ:MMSI) Stock Rating Reaffirmed by Piper Sandler

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a research report issued on Monday, Benzinga reports. They currently have a $110.00 price target on the medical instruments supplier’s stock, up from their prior price target of $100.00. Piper Sandler’s price target suggests a potential upside of 13.80% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Bank of America raised their price target on Merit Medical Systems from $87.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Needham & Company LLC lifted their price objective on Merit Medical Systems from $94.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $99.20.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI traded up $0.08 during trading hours on Monday, reaching $96.66. 22,960 shares of the stock traded hands, compared to its average volume of 444,425. The company has a market capitalization of $5.63 billion, a P/E ratio of 55.73, a price-to-earnings-growth ratio of 2.51 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. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $98.02. The company’s 50-day simple moving average is $89.33 and its two-hundred day simple moving average is $81.80.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. Equities research analysts forecast that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now owns 32,391 shares in the company, valued at $2,753,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by company insiders.

Institutional Trading of Merit Medical Systems

Large investors have recently modified their holdings of the company. William Blair Investment Management LLC raised its holdings in Merit Medical Systems by 0.3% during the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after acquiring an additional 10,512 shares during the period. Conestoga Capital Advisors LLC boosted its stake in Merit Medical Systems by 3.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock worth $193,419,000 after purchasing an additional 75,885 shares during the period. Dimensional Fund Advisors LP boosted its stake in Merit Medical Systems by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after purchasing an additional 41,065 shares during the period. Westwood Holdings Group Inc. boosted its stake in Merit Medical Systems by 17.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after purchasing an additional 131,977 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Merit Medical Systems by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock worth $63,543,000 after purchasing an additional 22,077 shares during the period. 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.