Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $110.78 Consensus PT from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been assigned a consensus rating of “Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One 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 analysts that have issued a report on the stock in the last year is $111.70.

Several brokerages recently commented on MMSI. Needham & Company LLC lowered their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Raymond James lifted their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Wells Fargo & Company dropped their target price on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a report on Friday. They set an “overweight” rating and a $120.00 target price on the stock. Finally, Canaccord Genuity Group reduced their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th.

Merit Medical Systems Price Performance

MMSI stock opened at $103.94 on Wednesday. The firm’s fifty day moving average is $104.30 and its 200 day moving average is $101.00. Merit Medical Systems has a 52 week low of $70.70 and a 52 week high of $111.45. The firm has a market cap of $6.12 billion, a P/E ratio of 50.95, a P/E/G ratio of 2.34 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

Insider Activity

In related news, Director Stephen C. Evans sold 5,000 shares of the firm’s 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 owns 4,657 shares in the company, valued at approximately $490,428.67. This trade represents a 51.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Raul Jr. Parra sold 12,451 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the sale, the chief financial officer now owns 24,201 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 109,132 shares of company stock valued at $11,139,521 over the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. NewSquare Capital LLC bought a new position in shares of Merit Medical Systems in the 4th quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Merit Medical Systems in the 4th quarter worth $52,000. Federated Hermes Inc. raised its holdings in Merit Medical Systems by 139.1% in 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 period. Group One Trading LLC purchased a new position in Merit Medical Systems during the fourth quarter valued at $77,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Merit Medical Systems in the third quarter worth about $120,000. Institutional investors 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.