Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $114.33 Consensus PT from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) have been given a consensus rating of "Buy" by the ten analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $113.89.

A number of equities analysts have issued reports on the company. Canaccord Genuity Group decreased their price objective on Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Raymond James lifted their price target on Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 31st. Barrington Research reaffirmed an "outperform" rating and issued a $111.00 target price on shares of Merit Medical Systems in a report on Friday, April 11th. Needham & Company LLC reiterated a "buy" rating and set a $116.00 price target on shares of Merit Medical Systems in a report on Wednesday, April 9th. Finally, Wells Fargo & Company lowered their price target on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th.

Merit Medical Systems Stock Up 0.5 %

Shares of MMSI stock traded up $0.51 during midday trading on Friday, reaching $94.27. 74,685 shares of the stock were exchanged, compared to its average volume of 487,258. Merit Medical Systems has a 1 year low of $72.81 and a 1 year high of $111.45. The firm has a market cap of $5.57 billion, a PE ratio of 46.10, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. The company's 50 day moving average is $99.17 and its two-hundred day moving average is $100.52. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, insider Brian G. Lloyd sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the sale, the insider now owns 38,993 shares in the company, valued at approximately $3,879,803.50. This trade represents a 39.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Raul Jr. Parra sold 12,451 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the completion of the transaction, the chief financial officer now owns 24,201 shares of the company's stock, valued at approximately $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock valued at $11,139,521 over the last quarter. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Merit Medical Systems

A number of hedge funds and other institutional investors have recently modified their holdings of MMSI. Diversified Trust Co raised its holdings in shares of Merit Medical Systems by 2.3% in the first quarter. Diversified Trust Co now owns 12,868 shares of the medical instruments supplier's stock worth $1,360,000 after buying an additional 284 shares during the period. Yorktown Management & Research Co Inc purchased a new position in Merit Medical Systems during the 1st quarter worth $312,000. Whalen Wealth Management Inc. increased its stake in shares of Merit Medical Systems by 52.6% during the first quarter. Whalen Wealth Management Inc. now owns 3,899 shares of the medical instruments supplier's stock valued at $412,000 after buying an additional 1,344 shares during the period. Blue Trust Inc. increased its position in Merit Medical Systems by 15.9% during the 1st quarter. Blue Trust Inc. now owns 1,529 shares of the medical instruments supplier's stock valued at $162,000 after purchasing an additional 210 shares during the period. Finally, Mountain Pacific Investment Advisers LLC bought a new stake in shares of Merit Medical Systems in the 1st quarter valued at about $7,407,000. 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.