Merit Medical Systems, Inc. (NASDAQ:MMSI) Given Consensus Rating of “Moderate Buy” by Brokerages

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $105.6667.

MMSI has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Merit Medical Systems in a research note on Monday, December 29th. Robert W. Baird set a $108.00 price target on Merit Medical Systems in a research report on Tuesday, December 16th. Canaccord Genuity Group boosted their price target on Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Zacks Research cut Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Piper Sandler decreased their target price on Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday.

Insider Buying and Selling

In other news, Chairman Fred P. Lampropoulos sold 10,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $88.04, for a total value of $880,400.00. Following the sale, the chairman owned 1,019,955 shares in the company, valued at $89,796,838.20. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several hedge funds have recently added to or reduced their stakes in MMSI. Tudor Investment Corp ET AL purchased a new position in shares of Merit Medical Systems during the 3rd quarter valued at about $2,913,050,000. State Street Corp raised its position in Merit Medical Systems by 1.5% during the fourth quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier’s stock valued at $196,645,000 after acquiring an additional 32,459 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Merit Medical Systems by 12.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,796 shares of the medical instruments supplier’s stock valued at $183,137,000 after acquiring an additional 234,682 shares during the period. Geode Capital Management LLC boosted its position in Merit Medical Systems by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,437,397 shares of the medical instruments supplier’s stock worth $134,384,000 after purchasing an additional 39,620 shares in the last quarter. Finally, Maverick Capital Ltd. grew its stake in shares of Merit Medical Systems by 8.4% during the 2nd quarter. Maverick Capital Ltd. now owns 1,379,408 shares of the medical instruments supplier’s stock worth $128,947,000 after purchasing an additional 106,897 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Stock Up 1.7%

MMSI stock opened at $82.98 on Friday. The stock has a market capitalization of $4.92 billion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 2.22 and a beta of 0.61. Merit Medical Systems has a 52 week low of $77.62 and a 52 week high of $108.99. The company has a quick ratio of 2.86, a current ratio of 4.28 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $84.45 and a 200 day moving average of $85.06.

About Merit Medical Systems

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.