Merit Medical Systems (NASDAQ:MMSI) Hits New 12-Month High at $92.00

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) reached a new 52-week high on Wednesday . The company traded as high as $92.00 and last traded at $91.82, with a volume of 228969 shares. The stock had previously closed at $90.92.

Wall Street Analysts Forecast Growth

MMSI has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Merit Medical Systems from $97.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Merit Medical Systems in a report on Tuesday, July 16th. Finally, Bank of America lifted their price objective on Merit Medical Systems from $87.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, August 5th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Merit Medical Systems has an average rating of “Buy” and a consensus target price of $97.10.

Merit Medical Systems Stock Up 1.2 %

The business’s 50 day moving average price is $86.69 and its 200-day moving average price is $80.62. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38. The company has a market cap of $5.42 billion, a P/E ratio of 53.61, a PEG ratio of 2.38 and a beta of 0.88.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now owns 32,391 shares in the company, valued at approximately $2,753,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now owns 32,391 shares in the company, valued at approximately $2,753,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $81.85, for a total transaction of $613,875.00. Following the sale, the chief operating officer now owns 14,819 shares of the company’s stock, valued at approximately $1,212,935.15. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Merit Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in the business. Truist Financial Corp bought a new stake in shares of Merit Medical Systems during the 2nd quarter valued at $795,000. Creative Planning grew its holdings in shares of Merit Medical Systems by 34.9% in the 2nd quarter. Creative Planning now owns 15,020 shares of the medical instruments supplier’s stock valued at $1,291,000 after buying an additional 3,887 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Merit Medical Systems in the 2nd quarter valued at $756,000. AQR Capital Management LLC grew its holdings in shares of Merit Medical Systems by 36.1% in the 2nd quarter. AQR Capital Management LLC now owns 11,043 shares of the medical instruments supplier’s stock valued at $949,000 after buying an additional 2,931 shares during the period. Finally, Point72 Europe London LLP grew its holdings in shares of Merit Medical Systems by 162.9% in the 2nd quarter. Point72 Europe London LLP now owns 147,500 shares of the medical instruments supplier’s stock valued at $12,678,000 after buying an additional 91,400 shares during the period. Institutional investors 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.