Merit Medical Systems, Inc. (NASDAQ:MMSI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given an average rating of “Buy” by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $111.70.

A number of equities analysts have commented on the stock. Barrington Research reduced their target price on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Raymond James raised 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 note on Tuesday, December 31st. Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Canaccord Genuity Group lowered their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their target price 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.

Insider Buying and Selling

In related news, insider Brian G. Lloyd sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the sale, the insider now directly owns 38,993 shares of the company’s stock, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Raul Jr. Parra sold 12,451 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 24,201 shares of the company’s stock, valued at $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,132 shares of company stock valued at $11,139,521 over the last 90 days. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

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

Merit Medical Systems Trading Down 0.2 %

Shares of NASDAQ:MMSI opened at $105.45 on Wednesday. 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 company has a market capitalization of $6.20 billion, a PE ratio of 51.69, a P/E/G ratio of 2.34 and a beta of 0.91. Merit Medical Systems has a 12-month low of $70.70 and a 12-month high of $111.45. The business’s fifty day simple moving average is $104.38 and its 200-day simple moving average is $101.20.

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.