Merit Medical Systems (NASDAQ:MMSI) Given New $85.00 Price Target at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI) had its target price reduced by Needham & Company LLC from $88.00 to $85.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Several other equities research analysts also recently weighed in on the company. StockNews.com downgraded Merit Medical Systems from a buy rating to a hold rating in a report on Wednesday, April 24th. Canaccord Genuity Group boosted their target price on shares of Merit Medical Systems from $102.00 to $112.00 and gave the company a buy rating in a research note on Thursday, February 29th. Barrington Research reaffirmed an outperform rating and issued a $98.00 price target on shares of Merit Medical Systems in a research note on Tuesday, April 16th. Raymond James boosted their price objective on shares of Merit Medical Systems from $84.00 to $89.00 and gave the company an outperform rating in a research report on Tuesday, January 30th. Finally, Oppenheimer boosted their price target on Merit Medical Systems from $82.00 to $87.00 and gave the company an outperform rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $92.78.

Merit Medical Systems Stock Up 3.4 %

Shares of MMSI opened at $76.63 on Wednesday. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. Merit Medical Systems has a 52-week low of $62.58 and a 52-week high of $85.62. The company has a market cap of $4.45 billion, a PE ratio of 44.04, a P/E/G ratio of 2.07 and a beta of 0.91. The business has a fifty day moving average of $74.26 and a 200 day moving average of $73.99.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $323.51 million during the quarter, compared to analysts’ expectations of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.11%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. On average, sell-side analysts expect that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now owns 12,007 shares in the company, valued at $887,917.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 12,007 shares in the company, valued at $887,917.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the sale, the director now directly owns 19,257 shares of the company’s stock, valued at $1,464,109.71. The disclosure for this sale can be found here. Insiders have sold a total of 49,637 shares of company stock valued at $3,751,673 over the last ninety days. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors have recently bought and sold shares of the company. Valued Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter valued at $29,000. Parallel Advisors LLC increased its position in Merit Medical Systems by 114.6% during 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. Tompkins Financial Corp purchased a new stake in Merit Medical Systems in the fourth quarter valued at about $38,000. Headlands Technologies LLC acquired a new stake in Merit Medical Systems in the third quarter worth about $41,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems in the third quarter worth about $67,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

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.