Merit Medical Systems (NASDAQ:MMSI) PT Raised to $103.00 at Bank of America

Merit Medical Systems (NASDAQ:MMSI) had its price target lifted by Bank of America from $92.00 to $103.00 in a research note published on Monday morning, Benzinga reports. Bank of America currently has a neutral rating on the medical instruments supplier’s stock.

Several other research firms also recently commented on MMSI. Baird R W upgraded Merit Medical Systems to a strong-buy rating in a report on Friday, June 28th. Barrington Research restated an outperform rating and set a $100.00 price objective on shares of Merit Medical Systems in a report on Tuesday, July 16th. StockNews.com raised shares of Merit Medical Systems from a hold rating to a buy rating in a research note on Monday, August 5th. Robert W. Baird initiated coverage on shares of Merit Medical Systems in a research report on Friday, June 28th. They set an outperform rating and a $96.00 target price for the company. Finally, Piper Sandler reaffirmed an overweight rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $100.55.

Merit Medical Systems Stock Up 1.5 %

Shares of NASDAQ MMSI opened at $100.23 on Monday. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. The firm has a market cap of $5.82 billion, a PE ratio of 57.60, a P/E/G ratio of 2.53 and a beta of 0.87. The company’s fifty day simple moving average is $91.46 and its 200 day simple moving average is $82.94. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $101.25.

Merit Medical Systems (NASDAQ:MMSI) last issued 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. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The company had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. As a group, sell-side analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction that occurred 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 transaction, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Merit Medical Systems

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