Merit Medical Systems (NASDAQ:MMSI) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Merit Medical Systems (NASDAQ:MMSI) in a report issued on Friday, MarketBeat.com reports. The firm issued an overweight rating and a $120.00 price target on the medical instruments supplier’s stock.

Several other equities analysts also recently commented on MMSI. Raymond James upped their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st. Wells Fargo & Company cut their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Barrington Research decreased their price objective 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. Piper Sandler restated an “overweight” rating and issued a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Finally, Canaccord Genuity Group decreased their price target on shares of 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. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.70.

Merit Medical Systems Stock Up 0.6 %

Shares of NASDAQ:MMSI opened at $103.94 on Friday. The firm has a market capitalization of $6.12 billion, a PE ratio of 50.95, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. The business has a 50 day simple moving average of $104.30 and a two-hundred day simple moving average of $101.00. Merit Medical Systems has a 1 year low of $70.70 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 12,451 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian G. Lloyd sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the sale, the insider now owns 38,993 shares in the company, valued at $3,879,803.50. This represents a 39.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Merit Medical Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of MMSI. NewSquare Capital LLC acquired a new position in shares of Merit Medical Systems during the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in Merit Medical Systems during the 4th quarter valued at about $52,000. Federated Hermes Inc. raised its stake in Merit Medical Systems by 139.1% in the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after buying an additional 381 shares during the last quarter. Group One Trading LLC acquired a new stake in Merit Medical Systems in the fourth quarter worth about $77,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock worth $134,000 after acquiring an additional 977 shares during the last quarter. Hedge funds and other 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.