Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $110.78 Average Price Target from Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned an average rating of “Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $110.78.

A number of analysts have recently weighed in on the company. Barrington Research cut their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC cut their price target on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Canaccord Genuity Group decreased their price objective on 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. Wells Fargo & Company lowered their price objective on 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th.

Insider Buying and Selling at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 12,451 shares of the company’s stock in a transaction 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 owns 24,201 shares in the company, valued at approximately $2,391,300.81. This represents a 33.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction on 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 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. Insiders have sold 42,451 shares of company stock worth $4,244,333 over the last three months. Insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in MMSI. Norges Bank acquired a new position in Merit Medical Systems during the fourth quarter worth approximately $66,638,000. FMR LLC increased its holdings in shares of Merit Medical Systems by 70.1% in the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after acquiring an additional 649,799 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Merit Medical Systems in the 4th quarter valued at $48,926,000. Groupama Asset Managment purchased a new stake in Merit Medical Systems in the 4th quarter valued at $38,688,000. Finally, Bryn Mawr Capital Management LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth $36,057,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Price Performance

Shares of MMSI opened at $104.85 on Friday. The company has a market cap of $6.17 billion, a P/E ratio of 51.40, a PEG ratio of 2.34 and a beta of 0.87. Merit Medical Systems has a fifty-two week low of $70.70 and a fifty-two week high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average price is $103.23 and its 200 day moving average price is $100.29.

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.