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

Merit Medical Systems, Inc. (NASDAQ:MMSI) has received an average rating of “Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. One 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 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $110.78.

Several equities analysts recently commented on MMSI shares. Canaccord Genuity Group dropped their price objective 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. Barrington Research decreased their price objective on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC dropped their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th.

Merit Medical Systems Stock Up 0.1 %

Merit Medical Systems stock opened at $104.74 on Wednesday. The firm has a 50 day moving average price of $104.21 and a 200-day moving average price of $100.92. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems has a twelve month low of $70.70 and a twelve month high of $111.45. The company has a market capitalization of $6.16 billion, a P/E ratio of 51.34, a P/E/G ratio of 2.34 and a beta of 0.91.

Insider Buying and Selling

In related news, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the completion of the sale, the director now owns 4,657 shares of the company’s stock, valued at approximately $490,428.67. This trade represents a 51.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian G. Lloyd sold 30,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total value of $3,087,000.00. Following the completion of the transaction, the insider now owns 38,945 shares in the company, valued at $4,007,440.50. This represents a 43.51 % 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. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System raised its position in shares of Merit Medical Systems by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier’s stock valued at $2,728,000 after buying an additional 100 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Merit Medical Systems by 4.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier’s stock valued at $227,000 after acquiring an additional 103 shares during the last quarter. Tidal Investments LLC raised its position in Merit Medical Systems by 1.0% during the third quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock valued at $1,028,000 after purchasing an additional 104 shares in the last quarter. Arizona State Retirement System lifted its stake in Merit Medical Systems by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier’s stock worth $1,632,000 after purchasing an additional 137 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Merit Medical Systems by 0.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock worth $2,830,000 after purchasing an additional 170 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

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.