Canaccord Genuity Group Increases Merit Medical Systems (NASDAQ:MMSI) Price Target to $127.00

Merit Medical Systems (NASDAQ:MMSI) had its target price increased by Canaccord Genuity Group from $125.00 to $127.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

MMSI has been the topic of several other reports. Wells Fargo & Company upped their price target on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 target price on shares of Merit Medical Systems in a report on Thursday, October 31st. Barrington Research reiterated an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Bank of America upped their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Robert W. Baird lifted their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.55.

Merit Medical Systems Trading Down 2.2 %

Merit Medical Systems stock opened at $102.09 on Monday. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 50.04, a P/E/G ratio of 2.59 and a beta of 0.84. The firm has a 50-day moving average of $99.75 and a 200-day moving average of $92.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems has a one year low of $67.81 and a one year high of $106.87.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. On average, equities analysts expect that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Insider Activity at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the completion of the sale, the chief financial officer now directly owns 16,361 shares in the company, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares in the company, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Merit Medical Systems

A number of institutional investors have recently modified their holdings of the stock. USA Financial Formulas acquired a new position in Merit Medical Systems in the third quarter valued at about $59,000. National Bank of Canada FI bought a new stake in shares of Merit Medical Systems during the 2nd quarter worth approximately $77,000. Anfield Capital Management LLC acquired a new stake in shares of Merit Medical Systems during the 2nd quarter worth approximately $86,000. Farther Finance Advisors LLC increased its stake in Merit Medical Systems by 32.7% in the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after acquiring an additional 260 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Merit Medical Systems in the second quarter valued at approximately $112,000. 99.66% of the stock is currently owned by institutional investors.

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.