Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $106.00.

MMSI has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. BTIG Research initiated coverage on shares of Merit Medical Systems in a research report on Friday, February 6th. They set a “buy” rating and a $107.00 price objective on the stock. Robert W. Baird set a $108.00 target price on shares of Merit Medical Systems in a report on Tuesday, December 16th. Finally, Barrington Research reissued an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a report on Friday, November 14th.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $81.66 on Friday. The company has a quick ratio of 2.86, a current ratio of 4.28 and a debt-to-equity ratio of 0.48. Merit Medical Systems has a 52 week low of $77.62 and a 52 week high of $110.10. The firm has a market capitalization of $4.84 billion, a P/E ratio of 41.88, a PEG ratio of 2.14 and a beta of 0.61. The company has a 50-day moving average price of $84.56 and a 200-day moving average price of $85.09.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total value of $880,400.00. Following the completion of the transaction, the chairman directly owned 1,019,955 shares in the company, valued at $89,796,838.20. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 60,000 shares of company stock worth $5,189,900. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its position in shares of Merit Medical Systems by 2.2% in the second quarter. Ameritas Investment Partners Inc. now owns 5,973 shares of the medical instruments supplier’s stock valued at $558,000 after purchasing an additional 131 shares in the last quarter. Norden Group LLC lifted its position in Merit Medical Systems by 5.7% during the third quarter. Norden Group LLC now owns 2,536 shares of the medical instruments supplier’s stock worth $211,000 after buying an additional 137 shares in the last quarter. Lido Advisors LLC boosted its stake in Merit Medical Systems by 3.8% during the fourth quarter. Lido Advisors LLC now owns 3,836 shares of the medical instruments supplier’s stock worth $324,000 after buying an additional 140 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its holdings in Merit Medical Systems by 7.2% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 2,225 shares of the medical instruments supplier’s stock valued at $208,000 after buying an additional 149 shares in the last quarter. Finally, Hilltop National Bank increased its stake in shares of Merit Medical Systems by 8.7% in the 3rd quarter. Hilltop National Bank now owns 2,119 shares of the medical instruments supplier’s stock worth $176,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

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.