Raymond James Reaffirms Buy Rating for Merit Medical Systems (NASDAQ:MMSI)

Raymond James reaffirmed their buy rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a report issued on Monday morning, AnalystRatings.com reports.

Several other brokerages also recently weighed in on MMSI. Oppenheimer boosted their price target on Merit Medical Systems from $46.00 to $50.00 and gave the company an outperform rating in a report on Thursday, July 30th. Piper Sandler boosted their price objective on shares of Merit Medical Systems from $50.00 to $55.00 and gave the company an overweight rating in a research note on Thursday, July 30th. Barrington Research boosted their price objective on shares of Merit Medical Systems from $49.00 to $54.00 and gave the company an outperform rating in a research note on Thursday, July 30th. Sidoti boosted their price objective on shares of Merit Medical Systems from $55.00 to $63.00 and gave the company a buy rating in a research note on Monday, June 1st. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Merit Medical Systems in a research report on Thursday, July 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $47.13.

Shares of Merit Medical Systems stock opened at $43.16 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.56 and a quick ratio of 1.29. Merit Medical Systems has a 1 year low of $19.50 and a 1 year high of $50.38. The company has a market capitalization of $2.39 billion, a P/E ratio of -79.92, a P/E/G ratio of 2.86 and a beta of 1.05. The business has a 50 day moving average price of $46.75 and a 200 day moving average price of $41.26.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.24. The company had revenue of $218.37 million during the quarter, compared to the consensus estimate of $192.67 million. Merit Medical Systems had a positive return on equity of 8.10% and a negative net margin of 3.10%. Merit Medical Systems’s revenue was down 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. As a group, research analysts expect that Merit Medical Systems will post 1.28 EPS for the current fiscal year.

In other news, Director David Floyd bought 1,159 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was purchased at an average price of $43.11 per share, for a total transaction of $49,964.49. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Starboard Value LP purchased a new stake in shares of Merit Medical Systems in the 1st quarter valued at approximately $151,308,000. Nuance Investments LLC grew its position in shares of Merit Medical Systems by 100.4% during the 1st quarter. Nuance Investments LLC now owns 4,232,030 shares of the medical instruments supplier’s stock worth $132,251,000 after buying an additional 2,120,304 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Merit Medical Systems by 23.3% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,965,137 shares of the medical instruments supplier’s stock worth $89,709,000 after buying an additional 371,285 shares during the period. Goldman Sachs Group Inc. grew its position in Merit Medical Systems by 90.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 652,872 shares of the medical instruments supplier’s stock valued at $29,803,000 after purchasing an additional 309,864 shares during the period. Finally, Point72 Asset Management L.P. grew its position in Merit Medical Systems by 2,660.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 240,888 shares of the medical instruments supplier’s stock valued at $10,997,000 after purchasing an additional 232,161 shares during the period.

About Merit Medical Systems

Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.

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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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