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

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $109.80.

Several research analysts recently weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Raymond James increased their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. Needham & Company LLC increased their price objective on Merit Medical Systems from $109.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Wells Fargo & Company upgraded Merit Medical Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $103.00 to $120.00 in a research report on Wednesday, December 11th.

Merit Medical Systems Price Performance

MMSI stock opened at $107.27 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The business has a 50 day simple moving average of $101.54 and a 200-day simple moving average of $97.44. The firm has a market capitalization of $6.25 billion, a PE ratio of 52.58, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. Merit Medical Systems has a 1 year low of $70.70 and a 1 year high of $111.45.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Merit Medical Systems

Large investors have recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Merit Medical Systems in the third quarter worth approximately $59,000. Farther Finance Advisors LLC boosted its stake in shares of Merit Medical Systems by 32.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after buying an additional 260 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Merit Medical Systems during the 3rd quarter valued at $120,000. GAMMA Investing LLC raised its holdings in shares of Merit Medical Systems by 56.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,303 shares of the medical instruments supplier’s stock valued at $129,000 after purchasing an additional 472 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Merit Medical Systems by 13.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier’s stock valued at $171,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.