Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $106.00 Consensus PT from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $106.00.

Several research analysts have recently weighed in on MMSI shares. Wells Fargo & Company reduced their price target on shares of Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a research note on Friday, January 9th. Canaccord Genuity Group increased their target price on Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Piper Sandler restated an “overweight” rating and issued a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. Finally, Zacks Research cut Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th.

Merit Medical Systems Trading Up 3.6%

NASDAQ:MMSI opened at $81.66 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.28 and a quick ratio of 2.86. The business’s 50-day simple moving average is $84.53 and its 200-day simple moving average is $85.10. Merit Medical Systems has a fifty-two week low of $77.62 and a fifty-two week high of $110.10. The stock has a market capitalization of $4.84 billion, a PE ratio of 41.88, a price-to-earnings-growth ratio of 2.22 and a beta of 0.61.

Insiders Place Their Bets

In other news, Chairman Fred P. Lampropoulos sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $87.31, for a total transaction of $2,182,750.00. Following the completion of the transaction, the chairman directly owned 1,029,955 shares of the company’s stock, valued at $89,925,371.05. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 55,000 shares of company stock worth $4,765,750. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several large investors have recently made changes to their positions in MMSI. Los Angeles Capital Management LLC bought a new stake in Merit Medical Systems during the fourth quarter worth $25,000. Maseco LLP bought a new position in shares of Merit Medical Systems in the 4th quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new position in shares of Merit Medical Systems during the 3rd quarter worth about $37,000. Torren Management LLC bought a new stake in shares of Merit Medical Systems in the 4th quarter valued at about $38,000. Finally, Covestor Ltd lifted its stake in Merit Medical Systems by 252.6% in the 4th quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier’s stock valued at $41,000 after purchasing an additional 336 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.