Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $103.00 at Wells Fargo & Company

Merit Medical Systems (NASDAQ:MMSI) had its price objective boosted by equities researchers at Wells Fargo & Company from $85.00 to $103.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 3.78% from the stock’s current price.

A number of other brokerages have also recently weighed in on MMSI. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Merit Medical Systems in a research report on Tuesday, July 16th. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research report on Monday. Baird R W upgraded shares of Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.55.

Merit Medical Systems Stock Up 3.2 %

Shares of MMSI stock traded up $3.09 during trading on Monday, hitting $99.25. 74,049 shares of the company were exchanged, compared to its average volume of 444,959. The business’s 50-day simple moving average is $90.42 and its 200 day simple moving average is $82.39. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $99.38. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 56.36, a P/E/G ratio of 2.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $338.00 million during the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. As a group, analysts forecast that Merit Medical Systems will post 3.31 EPS 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 dated 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 transaction, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Merit Medical Systems

Institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems in the 2nd quarter valued at about $29,000. Parallel Advisors LLC increased its position in shares of 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 buying an additional 212 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems during the 1st quarter worth $44,000. Headlands Technologies LLC acquired a new position in Merit Medical Systems in the first quarter valued at about $50,000. Finally, EntryPoint Capital LLC increased its holdings in shares of Merit Medical Systems by 2,666.7% in the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after acquiring an additional 880 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.