Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $109.80 Consensus PT from Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given a consensus recommendation of “Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $109.80.

A number of analysts have recently weighed in on MMSI shares. Canaccord Genuity Group upped their price objective on Merit Medical Systems from $127.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Barrington Research lifted their price target 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. Raymond James increased their price objective 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. StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Wells Fargo & Company raised Merit Medical Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $103.00 to $120.00 in a report on Wednesday, December 11th.

Merit Medical Systems Trading Down 0.2 %

Shares of Merit Medical Systems stock opened at $109.05 on Tuesday. The stock has a 50 day moving average of $101.78 and a 200 day moving average of $97.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 53.46, a PEG ratio of 2.41 and a beta of 0.87. Merit Medical Systems has a fifty-two week low of $70.70 and a fifty-two week high of $111.45.

Insiders Place Their Bets

In related news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Merit Medical Systems

Large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in Merit Medical Systems by 70.1% during 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. Raymond James Financial Inc. acquired a new position in Merit Medical Systems in the fourth quarter valued at approximately $48,926,000. Bryn Mawr Capital Management LLC bought a new position in Merit Medical Systems in the fourth quarter valued at approximately $36,057,000. Two Sigma Advisers LP boosted its stake in 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 valued at $44,029,000 after acquiring an additional 305,800 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in 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 during the period. 99.66% of the stock is owned by institutional investors.

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.