Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $110.78 Consensus Target Price from Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have earned a consensus rating of “Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $111.70.

A number of equities analysts have weighed in on MMSI shares. JPMorgan Chase & Co. initiated coverage on shares of Merit Medical Systems in a report on Friday. They issued an “overweight” rating and a $120.00 price target on the stock. Raymond James lifted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Barrington Research dropped their price target on 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. Wells Fargo & Company reduced their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Needham & Company LLC dropped their target price on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th.

Merit Medical Systems Trading Up 0.6 %

Shares of MMSI stock opened at $103.94 on Wednesday. The firm’s 50-day simple moving average is $104.30 and its 200-day simple moving average is $101.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems has a 1-year low of $70.70 and a 1-year high of $111.45. The firm has a market cap of $6.12 billion, a P/E ratio of 50.95, a PEG ratio of 2.34 and a beta of 0.91.

Insider Buying and Selling

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 31,320 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the transaction, the chief executive officer now owns 1,086,028 shares in the company, valued at $112,794,868.08. The trade was a 2.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Raul Jr. Parra sold 12,451 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were 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 $2,391,300.81. This represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,132 shares of company stock valued at $11,139,521. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewSquare Capital LLC purchased a new position in shares of Merit Medical Systems during the 4th quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Merit Medical Systems in the fourth quarter valued at $52,000. Federated Hermes Inc. boosted its stake in Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after acquiring an additional 381 shares during the last quarter. Group One Trading LLC bought a new position in Merit Medical Systems during the 4th quarter valued at $77,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Merit Medical Systems during the 3rd quarter worth $120,000. 99.66% of the stock is currently owned by hedge funds and other 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.