Merit Medical Systems (NASDAQ:MMSI) Price Target Lowered to $116.00 at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI) had its target price trimmed by Needham & Company LLC from $122.00 to $116.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

Several other equities research analysts have also recently weighed in on the company. Piper Sandler reiterated an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Canaccord Genuity Group upped their price target on Merit Medical Systems from $127.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Barrington Research boosted their price objective on Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company raised Merit Medical Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $103.00 to $120.00 in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and an average price target of $108.40.

Merit Medical Systems Trading Down 1.5 %

Shares of MMSI opened at $100.45 on Wednesday. The business’s 50-day moving average price is $102.79 and its 200-day moving average price is $99.89. Merit Medical Systems has a twelve month low of $70.70 and a twelve month high of $111.45. The stock has a market cap of $5.85 billion, a PE ratio of 49.24, a P/E/G ratio of 2.34 and a beta of 0.87. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Institutional Trading of Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its stake in Merit Medical Systems by 305.4% in the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock worth $11,142,000 after buying an additional 84,923 shares in the last quarter. EULAV Asset Management boosted its stake in Merit Medical Systems by 400.0% in the fourth quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock worth $11,123,000 after buying an additional 92,000 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Merit Medical Systems in the third quarter worth approximately $718,000. Fisher Asset Management LLC boosted its stake in Merit Medical Systems by 3.2% in the third quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock worth $21,910,000 after buying an additional 6,837 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Merit Medical Systems by 85.6% in the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after buying an additional 265,648 shares in the last quarter. Hedge funds and other 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.