Analysts Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Price Target at $109.80

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been assigned an average rating of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $109.80.

Several brokerages have recently issued reports on MMSI. Raymond James lifted their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Needham & Company LLC raised their price target on shares of Merit Medical Systems from $109.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Piper Sandler restated an “overweight” rating and issued a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group raised their price objective on shares of Merit Medical Systems from $127.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th.

Merit Medical Systems Price Performance

MMSI opened at $109.92 on Tuesday. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 53.88, a PEG ratio of 2.42 and a beta of 0.87. The company has a current ratio of 5.36, a quick ratio of 3.82 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 fifty day simple moving average of $101.99 and a 200 day simple moving average of $98.23.

Insider Activity at Merit Medical Systems

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

Institutional Trading of Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Conestoga Capital Advisors LLC raised its holdings in shares of Merit Medical Systems by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock valued at $226,236,000 after acquiring an additional 38,780 shares in the last quarter. State Street Corp grew its stake in shares of Merit Medical Systems by 0.7% in the third quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock worth $220,559,000 after acquiring an additional 15,098 shares during the last quarter. FMR LLC boosted its position in shares of Merit Medical Systems by 70.1% during the third quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after buying an additional 649,799 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Merit Medical Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,357,265 shares of the medical instruments supplier’s stock valued at $134,165,000 after buying an additional 17,490 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Merit Medical Systems by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 748,561 shares of the medical instruments supplier’s stock valued at $72,401,000 after buying an additional 21,221 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 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.