Merit Medical Systems (NASDAQ:MMSI) Price Target Lowered to $117.00 at Wells Fargo & Company

Merit Medical Systems (NASDAQ:MMSI) had its target price decreased by Wells Fargo & Company from $120.00 to $117.00 in a research note released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical instruments supplier’s stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Robert W. Baird increased their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC dropped their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Finally, Barrington Research lifted their target price on shares of Merit Medical Systems from $114.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.40.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $100.45 on Wednesday. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 49.24, a PEG ratio of 2.34 and a beta of 0.87. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems has a twelve month low of $70.70 and a twelve month high of $111.45. The stock has a fifty day simple moving average of $102.79 and a 200 day simple moving average of $99.89.

Institutional Investors Weigh In On Merit Medical Systems

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Merit Medical Systems by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier’s stock worth $643,058,000 after purchasing an additional 63,314 shares in the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Merit Medical Systems by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock worth $226,236,000 after acquiring an additional 38,780 shares in the last quarter. State Street Corp grew its stake in Merit Medical Systems by 0.7% in the third quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock valued at $220,559,000 after acquiring an additional 15,098 shares during the period. FMR LLC grew its stake in Merit Medical Systems by 31.6% in the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier’s stock valued at $200,833,000 after acquiring an additional 499,193 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Merit Medical Systems by 2.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,633,246 shares of the medical instruments supplier’s stock valued at $157,968,000 after acquiring an additional 36,489 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

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.