Merit Medical Systems (NASDAQ:MMSI) Price Target Cut to $127.00 by Analysts at Canaccord Genuity Group

Merit Medical Systems (NASDAQ:MMSI) had its price objective dropped by equities research analysts at Canaccord Genuity Group from $128.00 to $127.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s target price points to a potential upside of 23.28% from the company’s previous close.

MMSI has been the subject of a number of other reports. Robert W. Baird upped their price objective 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. Barrington Research lifted their price target on Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Finally, StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.80.

Merit Medical Systems Trading Up 1.0 %

Shares of NASDAQ:MMSI traded up $0.99 during trading on Wednesday, reaching $103.02. The company’s stock had a trading volume of 392,470 shares, compared to its average volume of 512,032. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The firm’s 50 day simple moving average is $102.72 and its two-hundred day simple moving average is $99.89. The stock has a market capitalization of $6.00 billion, a PE ratio of 50.57, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. Merit Medical Systems has a 12 month low of $70.70 and a 12 month high of $111.45.

Hedge Funds Weigh In On Merit Medical Systems

Several large investors have recently modified their holdings of the business. NewSquare Capital LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at $52,000. Federated Hermes Inc. raised its holdings in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after buying an additional 381 shares during the period. Group One Trading LLC purchased a new position in Merit Medical Systems during the 4th quarter valued at about $77,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

About Merit Medical Systems

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.