Merit Medical Systems (NASDAQ:MMSI) Sees Strong Trading Volume – Time to Buy?

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) saw strong trading volume on Friday . 386,772 shares traded hands during trading, a decline of 20% from the previous session’s volume of 486,226 shares.The stock last traded at $102.54 and had previously closed at $102.07.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MMSI. Robert W. Baird boosted their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Barrington Research reiterated an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a research note on Monday, December 23rd. Raymond James increased their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st. Canaccord Genuity Group lifted their price target on shares of Merit Medical Systems from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and an average price target of $107.70.

Merit Medical Systems Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The business’s fifty day moving average price is $101.00 and its two-hundred day moving average price is $95.96. The stock has a market capitalization of $6.00 billion, a PE ratio of 50.44, a price-to-earnings-growth ratio of 2.15 and a beta of 0.85.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Insider Activity

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the sale, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. This represents a 64.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at $3,289,306.05. The trade was a 27.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of Merit Medical Systems by 70.1% in the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after purchasing an additional 649,799 shares during the period. Point72 Asset Management L.P. increased its holdings in Merit Medical Systems by 147.2% in the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after buying an additional 377,851 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Merit Medical Systems by 218.9% in the third quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier’s stock worth $44,029,000 after acquiring an additional 305,800 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Merit Medical Systems by 85.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after acquiring an additional 265,648 shares in the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in shares of Merit Medical Systems during the 3rd quarter valued at about $25,004,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

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.