Merit Medical Systems (NASDAQ:MMSI) Hits New 1-Year High at $97.32

Merit Medical Systems, Inc. (NASDAQ:MMSI)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $97.32 and last traded at $97.31, with a volume of 199812 shares changing hands. The stock had previously closed at $96.26.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MMSI shares. Canaccord Genuity Group upped their price target on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Needham & Company LLC increased their target price on Merit Medical Systems from $94.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Merit Medical Systems in a report on Tuesday, July 16th. Finally, Bank of America raised their price objective on shares of Merit Medical Systems from $87.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, August 5th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Merit Medical Systems currently has a consensus rating of “Buy” and a consensus price target of $98.20.

Merit Medical Systems Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. The company has a fifty day moving average price of $89.33 and a 200 day moving average price of $81.77. The stock has a market cap of $5.61 billion, a P/E ratio of 55.51, a P/E/G ratio of 2.51 and a beta of 0.88.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The business had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. On average, equities analysts expect that Merit Medical Systems, Inc. will post 3.31 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $81.85, for a total value of $613,875.00. Following the sale, the chief operating officer now owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the sale, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the completion of the transaction, the chief operating officer now owns 14,819 shares of the company’s stock, valued at approximately $1,212,935.15. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MMSI. William Blair Investment Management LLC increased its position in shares of Merit Medical Systems by 0.3% during the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after buying an additional 10,512 shares during the period. Conestoga Capital Advisors LLC lifted its stake in Merit Medical Systems by 3.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock worth $193,419,000 after purchasing an additional 75,885 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Merit Medical Systems by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock valued at $99,258,000 after purchasing an additional 41,065 shares during the period. Westwood Holdings Group Inc. boosted its holdings in Merit Medical Systems by 17.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after purchasing an additional 131,977 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Merit Medical Systems by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock valued at $63,543,000 after purchasing an additional 22,077 shares in the last quarter. 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.