Merit Medical Systems (NASDAQ:MMSI) Receives “Overweight” Rating from Piper Sandler

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

Several other brokerages also recently weighed in on MMSI. Canaccord Genuity Group upped their target price on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a buy rating in a research note on Tuesday, July 2nd. Robert W. Baird started coverage on shares of Merit Medical Systems in a research report on Friday, June 28th. They issued an outperform rating and a $96.00 price objective for the company. Baird R W raised Merit Medical Systems to a strong-buy rating in a research report on Friday, June 28th. Bank of America increased their price target on Merit Medical Systems from $87.00 to $92.00 and gave the company a neutral rating in a report on Monday, August 5th. Finally, 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 report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of Buy and a consensus price target of $99.20.

Merit Medical Systems Trading Down 1.2 %

NASDAQ:MMSI opened at $95.98 on Monday. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $98.04. The business’s 50-day moving average is $90.20 and its two-hundred day moving average is $82.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. The firm has a market capitalization of $5.58 billion, a PE ratio of 55.16, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate 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 return on equity of 15.29% and a net margin of 9.02%. Research analysts predict that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the completion of the sale, the director now owns 32,391 shares in the company, valued at $2,753,235. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors have recently made changes to their positions in MMSI. American Century Companies Inc. boosted its position in Merit Medical Systems by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after purchasing an additional 118 shares during the period. Renaissance Group LLC boosted its holdings in shares of Merit Medical Systems by 0.6% during the fourth quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock valued at $1,863,000 after acquiring an additional 144 shares during the period. Xponance Inc. grew its position in shares of Merit Medical Systems by 4.9% during the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after acquiring an additional 170 shares during the last quarter. Entropy Technologies LP increased its holdings in shares of Merit Medical Systems by 6.5% in the 1st quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock worth $251,000 after acquiring an additional 203 shares during the period. Finally, Parallel Advisors LLC lifted its position in Merit Medical Systems by 114.6% in the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 212 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

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.