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

Merit Medical Systems (NASDAQ:MMSI) had its price objective dropped by investment analysts at Needham & Company LLC from $122.00 to $116.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 13.67% from the company’s current price.

Several other analysts also recently commented on the stock. Wells Fargo & Company upgraded shares of Merit Medical Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $103.00 to $120.00 in a report on Wednesday, December 11th. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Raymond James upped their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. Robert W. Baird raised their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Barrington Research lifted their target price on shares of Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.20.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $102.05 on Wednesday. The firm has a market capitalization of $5.95 billion, a PE ratio of 50.02, a PEG ratio of 2.34 and a beta of 0.87. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems has a 1-year low of $70.70 and a 1-year high of $111.45. The business’s 50 day moving average is $102.72 and its 200-day moving average is $99.89.

Institutional Trading of Merit Medical Systems

A number of institutional investors have recently made changes to their positions in MMSI. Peak Retirement Planning Inc. purchased a new stake in Merit Medical Systems during the 4th quarter valued at $875,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Merit Medical Systems by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,344 shares of the medical instruments supplier’s stock valued at $15,992,000 after purchasing an additional 24,528 shares during the period. iSAM Funds UK Ltd bought a new position in Merit Medical Systems during the 4th quarter valued at approximately $424,000. Virtus Investment Advisers Inc. lifted its holdings in Merit Medical Systems by 45.7% in the 4th quarter. Virtus Investment Advisers Inc. now owns 11,192 shares of the medical instruments supplier’s stock worth $1,082,000 after buying an additional 3,513 shares during the period. Finally, Tidal Investments LLC grew its position in shares of Merit Medical Systems by 3,197.9% in the 4th quarter. Tidal Investments LLC now owns 342,912 shares of the medical instruments supplier’s stock worth $33,166,000 after buying an additional 332,514 shares during the last quarter. Hedge funds and other institutional investors 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.