Merit Medical Systems (NASDAQ:MMSI) Rating Increased to Strong-Buy at BTIG Research

Merit Medical Systems (NASDAQ:MMSI) was upgraded by analysts at BTIG Research to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

MMSI has been the subject of several other research reports. Canaccord Genuity Group increased their price target on Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Barrington Research restated an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a research note on Monday, December 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.00.

Merit Medical Systems Stock Performance

MMSI opened at $82.50 on Friday. Merit Medical Systems has a twelve month low of $78.12 and a twelve month high of $110.67. The stock has a market cap of $4.89 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.61. The business’s 50 day moving average is $84.92 and its 200-day moving average is $85.22. The company has a current ratio of 4.28, a quick ratio of 2.86 and a debt-to-equity ratio of 0.48.

Insider Activity at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $88.04, for a total transaction of $880,400.00. Following the completion of the sale, the chairman directly owned 1,019,955 shares of the company’s stock, valued at $89,796,838.20. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 60,000 shares of company stock valued at $5,189,900. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new stake in shares of Merit Medical Systems during the 3rd quarter valued at $2,913,050,000. State Street Corp lifted its holdings in shares of Merit Medical Systems by 1.1% during the second quarter. State Street Corp now owns 2,218,432 shares of the medical instruments supplier’s stock valued at $207,379,000 after purchasing an additional 24,569 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $134,384,000 after purchasing an additional 39,620 shares during the period. Maverick Capital Ltd. boosted its position in shares of Merit Medical Systems by 8.4% in the 2nd quarter. Maverick Capital Ltd. now owns 1,379,408 shares of the medical instruments supplier’s stock valued at $128,947,000 after purchasing an additional 106,897 shares during the period. Finally, Wellington Management Group LLP increased its stake in Merit Medical Systems by 377.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock worth $103,248,000 after purchasing an additional 980,823 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

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.