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

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been given an average recommendation of “Buy” by the ten analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $110.78.

A number of equities research analysts have weighed in on MMSI shares. Canaccord Genuity Group dropped 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 report on Wednesday. Barrington Research dropped their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday. StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Wells Fargo & Company dropped their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Raymond James lifted their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 31st.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $102.04 on Friday. Merit Medical Systems has a 12-month low of $70.70 and a 12-month high of $111.45. The stock has a market cap of $5.95 billion, a P/E ratio of 50.02, a PEG ratio of 2.34 and a beta of 0.87. The company has a 50-day moving average price of $102.91 and a 200 day moving average price of $99.96. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System increased its holdings in shares of Merit Medical Systems by 0.4% in 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 acquiring an additional 100 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of Merit Medical Systems by 4.6% in the 4th 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 period. Tidal Investments LLC increased its holdings in shares of Merit Medical Systems by 1.0% in the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock valued at $1,028,000 after acquiring an additional 104 shares during the period. Arizona State Retirement System increased its holdings in shares of Merit Medical Systems by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier’s stock valued at $1,632,000 after acquiring an additional 137 shares during the period. Finally, Glenmede Trust Co. NA increased 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 valued at $2,830,000 after acquiring an additional 170 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.

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.