Brokerages Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Price Target at $110.78

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $111.70.

Several research firms have commented on MMSI. Piper Sandler reiterated an “overweight” rating and set a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Needham & Company LLC reduced their price objective on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company 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 on the stock in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group lowered their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th.

Insider Buying and Selling at Merit Medical Systems

In related news, insider Brian G. Lloyd sold 30,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total value of $3,087,000.00. Following the sale, the insider now directly owns 38,945 shares in the company, valued at approximately $4,007,440.50. The trade was a 43.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen C. Evans sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the transaction, the director now directly owns 4,657 shares of the company’s stock, valued at approximately $490,428.67. This trade represents a 51.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock worth $11,139,521 over the last quarter. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Merit Medical Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMSI. Norges Bank acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at $66,638,000. FMR LLC boosted its holdings in Merit Medical Systems by 70.1% during the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after acquiring an additional 649,799 shares during the period. Raymond James Financial Inc. acquired a new position in Merit Medical Systems in the 4th quarter valued at about $48,926,000. Groupama Asset Managment purchased a new stake in Merit Medical Systems during the fourth quarter worth about $38,688,000. Finally, Bryn Mawr Capital Management LLC acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth about $36,057,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Down 0.2 %

MMSI stock opened at $105.45 on Wednesday. Merit Medical Systems has a 52 week low of $70.70 and a 52 week high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $104.38 and a 200-day simple moving average of $101.20. The stock has a market capitalization of $6.20 billion, a P/E ratio of 51.69, a P/E/G ratio of 2.34 and a beta of 0.91.

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.