Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given an average rating of “Buy” by the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $96.20.

A number of equities analysts recently weighed in on the stock. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Piper Sandler boosted their price target on shares of Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Needham & Company LLC boosted their price target on shares of Merit Medical Systems from $85.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Merit Medical Systems in a report on Tuesday, July 16th. Finally, Robert W. Baird started coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price target on the stock.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the completion of the transaction, the chief operating officer now owns 14,819 shares in the company, valued at $1,212,935.15. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MMSI. Opal Wealth Advisors LLC bought a new position in Merit Medical Systems during the second quarter valued at approximately $29,000. Parallel Advisors LLC grew its position in Merit Medical Systems by 114.6% during the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 212 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Merit Medical Systems during the first quarter valued at approximately $44,000. Headlands Technologies LLC bought a new position in Merit Medical Systems during the first quarter valued at approximately $50,000. Finally, EntryPoint Capital LLC grew its position in Merit Medical Systems by 2,666.7% during the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after acquiring an additional 880 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $85.00 on Friday. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $88.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 48.85, a PEG ratio of 2.45 and a beta of 0.88. The company has a fifty day moving average price of $83.71 and a 200-day moving average price of $79.12.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The firm had revenue of $323.51 million during the quarter, compared to analyst estimates of $315.57 million. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that Merit Medical Systems will post 3.28 EPS for the current fiscal year.

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.