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

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have received an average recommendation of “Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $111.70.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC lowered their price objective 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, February 26th. JPMorgan Chase & Co. began coverage on shares of Merit Medical Systems in a research note on Friday. They set an “overweight” rating and a $120.00 price target on the stock. Raymond James increased their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Wells Fargo & Company lowered their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group cut their target price on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th.

Merit Medical Systems Trading Up 0.6 %

Shares of MMSI stock opened at $103.94 on Wednesday. The company has a market capitalization of $6.12 billion, a P/E ratio of 50.95, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. 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 business’s 50 day moving average is $104.30 and its two-hundred day moving average is $101.06. Merit Medical Systems has a twelve month low of $70.70 and a twelve month high of $111.45.

Insiders Place Their Bets

In other news, Director Stephen C. Evans sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 4,657 shares in the company, valued at $490,428.67. This represents a 51.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian G. Lloyd sold 30,000 shares of Merit Medical Systems stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total value of $3,087,000.00. Following the transaction, the insider now owns 38,945 shares of the company’s stock, valued at $4,007,440.50. This represents a 43.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Merit Medical Systems

A number of large investors have recently bought and sold shares of MMSI. NewSquare Capital LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter valued at $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in Merit Medical Systems in the 4th quarter valued at about $52,000. Federated Hermes Inc. boosted its stake in shares of Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after purchasing an additional 381 shares during the last quarter. Group One Trading LLC purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth about $77,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Merit Medical Systems in the third quarter valued at approximately $120,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.