Merit Medical Systems (NASDAQ:MMSI) had its target price upped by analysts at Needham & Company LLC from $67.00 to $73.00 in a research note issued to investors on Tuesday, October 2nd, Marketbeat reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price target points to a potential upside of 18.47% from the company’s current price.
A number of other research firms have also issued reports on MMSI. BidaskClub lowered Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 7th. Bank of America lowered Merit Medical Systems from a “buy” rating to an “underperform” rating and set a $64.00 target price for the company. in a report on Tuesday, August 7th. Zacks Investment Research upgraded Merit Medical Systems from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Barrington Research increased their price objective on Merit Medical Systems from $50.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, July 24th. Finally, Raymond James increased their price objective on Merit Medical Systems from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $67.10.
Shares of NASDAQ MMSI opened at $61.62 on Tuesday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 48.14, a PEG ratio of 2.90 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.66 and a quick ratio of 1.45. Merit Medical Systems has a 1 year low of $36.21 and a 1 year high of $66.34.
Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $224.81 million during the quarter, compared to analyst estimates of $214.64 million. Merit Medical Systems had a return on equity of 10.48% and a net margin of 2.44%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. Equities research analysts forecast that Merit Medical Systems will post 1.64 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of MMSI. Mount Yale Investment Advisors LLC acquired a new stake in shares of Merit Medical Systems in the first quarter valued at about $156,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Merit Medical Systems in the second quarter valued at about $206,000. Mutual Advisors LLC acquired a new stake in shares of Merit Medical Systems in the second quarter valued at about $208,000. Intrust Bank NA acquired a new stake in shares of Merit Medical Systems in the second quarter valued at about $211,000. Finally, Advisors Asset Management Inc. grew its position in shares of Merit Medical Systems by 10,444.4% in the second quarter. Advisors Asset Management Inc. now owns 471,864 shares of the medical instruments supplier’s stock valued at $219,000 after purchasing an additional 467,389 shares during the last quarter. Institutional investors own 86.96% of the company’s stock.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
Further Reading: Fundamental Analysis and Individual Investors
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