Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $109.11 Average PT from Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) have been given a consensus recommendation of "Buy" by the ten brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $109.11.

A number of analysts have recently weighed in on the company. Robert W. Baird cut their target price on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They set an "overweight" rating and a $120.00 price objective on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $110.00 price target (up previously from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd. Wells Fargo & Company restated an "overweight" rating and set a $108.00 target price (up from $106.00) on shares of Merit Medical Systems in a research note on Wednesday, May 21st. Finally, Barrington Research decreased their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 20,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $96.54, for a total value of $1,930,800.00. Following the sale, the chief executive officer now owns 1,066,028 shares in the company, valued at approximately $102,914,343.12. The trade was a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael R. Mcdonnell sold 1,750 shares of Merit Medical Systems stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $94.51, for a total value of $165,392.50. Following the completion of the transaction, the director now directly owns 6,395 shares in the company, valued at approximately $604,391.45. This represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,015 shares of company stock worth $6,709,970 in the last quarter. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of MMSI. Opal Wealth Advisors LLC acquired a new stake in Merit Medical Systems during the first quarter worth approximately $31,000. NewSquare Capital LLC bought a new stake in shares of Merit Medical Systems in the 4th quarter valued at $32,000. IFP Advisors Inc lifted its position in shares of Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock valued at $32,000 after acquiring an additional 287 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock valued at $39,000 after acquiring an additional 200 shares during the period. Finally, Bayforest Capital Ltd bought a new stake in Merit Medical Systems in the first quarter valued at $41,000. Institutional investors and hedge funds own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI traded down $0.44 on Monday, hitting $94.84. The company had a trading volume of 362,470 shares, compared to its average volume of 528,753. The stock has a 50 day moving average price of $94.78 and a 200 day moving average price of $99.89. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 46.49, a P/E/G ratio of 2.34 and a beta of 0.66. Merit Medical Systems has a 1-year low of $80.02 and a 1-year high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $355.35 million for the quarter, compared to analyst estimates of $352.57 million. During the same quarter last year, the company earned $0.77 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Analysts expect that Merit Medical Systems will post 3.37 EPS for the current year.

Merit Medical Systems Company Profile

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.