Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives Consensus Rating of “Buy” from Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given a consensus rating of “Buy” by the ten research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $110.78.

A number of equities analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Barrington Research reduced their target price on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group dropped their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their price objective on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Raymond James lifted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st.

Insider Activity

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 12,451 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the sale, the chief financial officer now owns 24,201 shares of the company’s stock, valued at approximately $2,391,300.81. This represents a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen C. Evans sold 5,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total value of $526,550.00. Following the completion of the transaction, the director now owns 4,657 shares of the company’s stock, valued at approximately $490,428.67. This represents a 51.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 42,451 shares of company stock worth $4,244,333. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Large investors have recently added to or reduced their stakes in the business. NewSquare Capital LLC acquired a new position in Merit Medical Systems during the fourth quarter worth about $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter worth approximately $52,000. Federated Hermes Inc. lifted its stake in 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 in the last quarter. Group One Trading LLC acquired a new stake in Merit Medical Systems during the 4th quarter valued at $77,000. Finally, Farther Finance Advisors LLC increased its position in 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 buying an additional 260 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Up 2.9 %

Merit Medical Systems stock opened at $104.85 on Friday. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 2.34 and a beta of 0.87. 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 stock has a 50 day moving average of $103.23 and a two-hundred day moving average of $100.29. Merit Medical Systems has a twelve month low of $70.70 and a twelve month high of $111.45.

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.