Fintel reports that on July 26, 2023, Needham reiterated coverage of Merit Medical Systems (NASDAQ:MMSI) with a Buy recommendation.
Analyst Price Forecast Suggests 12.28% Upside
As of July 6, 2023, the average one-year price target for Merit Medical Systems is 91.54. The forecasts range from a low of 78.78 to a high of $107.10. The average price target represents an increase of 12.28% from its latest reported closing price of 81.53.
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The projected annual revenue for Merit Medical Systems is 1,222MM, an increase of 1.99%. The projected annual non-GAAP EPS is 2.89.
What is the Fund Sentiment?
There are 678 funds or institutions reporting positions in Merit Medical Systems. This is an increase of 28 owner(s) or 4.31% in the last quarter. Average portfolio weight of all funds dedicated to MMSI is 0.29%, a decrease of 3.39%. Total shares owned by institutions decreased in the last three months by 0.39% to 65,520K shares. 
The put/call ratio of MMSI is 0.31, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 4,152K shares representing 7.22% ownership of the company. In it's prior filing, the firm reported owning 4,218K shares, representing a decrease of 1.58%. The firm increased its portfolio allocation in MMSI by 0.17% over the last quarter.
William Blair Investment Management holds 3,396K shares representing 5.91% ownership of the company. In it's prior filing, the firm reported owning 3,730K shares, representing a decrease of 9.84%. The firm decreased its portfolio allocation in MMSI by 13.16% over the last quarter.
ArrowMark Colorado Holdings holds 2,928K shares representing 5.09% ownership of the company. In it's prior filing, the firm reported owning 2,517K shares, representing an increase of 14.04%. The firm increased its portfolio allocation in MMSI by 15.96% over the last quarter.
Conestoga Capital Advisors holds 2,091K shares representing 3.64% ownership of the company. In it's prior filing, the firm reported owning 2,077K shares, representing an increase of 0.68%. The firm increased its portfolio allocation in MMSI by 94,256.85% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,752K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 1,725K shares, representing an increase of 1.54%. The firm decreased its portfolio allocation in MMSI by 1.80% over the last quarter.
Merit Medical Systems Background Information
(This description is provided by the company.)
Founded in 1987, Merit Medical Systems, Inc. is a leading manufacturer and marketer of proprietary disposable medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy. Merit serves client hospitals worldwide with a domestic and international sales force and clinical support team totaling in excess of 500 individuals. Merit employs approximately 6,000 people worldwide with facilities in South Jordan, Utah; Pearland, Texas; Richmond, Virginia; Rockland, Massachusetts; Aliso Viejo, California; Maastricht and Venlo, The Netherlands; Paris, France; Galway, Ireland; Beijing, China; Tijuana, Mexico; Joinville, Brazil; Ontario, Canada; Melbourne, Australia; Tokyo, Japan; Reading, United Kingdom; Johannesburg, South Africa; and Singapore.
Additional reading:
- MERIT MEDICAL REPORTS RESULTS FOR SECOND QUARTER JUNE 30, 2023
- 2 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This presentation and any accompanying management commentary include “forward-looking statements,” as defined within applicable securities laws and regulations. All statements in this presen
- Merit Medical Announces New Five-Year Senior Secured Credit Agreement
- PR/Media Inquiries:
- 1 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Statements contained in this presentation which are not purely historical, including, without limitation, statements regarding Merit’s forecasted plans, revenues, net sales, net income (GAAP
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
