Merit Medical Systems, Inc. (NASDAQ:MMSI) has been given an average recommendation of “Buy” by the twelve research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $68.10.
A number of analysts have issued reports on MMSI shares. Bank of America downgraded Merit Medical Systems from a “buy” rating to an “underperform” rating and set a $64.00 target price for the company. in a research report on Tuesday, August 7th. SunTrust Banks raised their target price on Merit Medical Systems to $68.00 and gave the stock a “buy” rating in a research report on Monday, August 27th. Needham & Company LLC raised their target price on Merit Medical Systems from $67.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Barrington Research raised their target price on Merit Medical Systems to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 2nd. Finally, Piper Jaffray Companies raised their target price on Merit Medical Systems from $58.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 2nd.
NASDAQ:MMSI opened at $62.85 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.77 and a quick ratio of 1.47. Merit Medical Systems has a 1 year low of $41.55 and a 1 year high of $66.34. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 49.10, a PEG ratio of 2.90 and a beta of 1.22.
In other news, Director F. Ann Millner sold 9,593 shares of Merit Medical Systems stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $56.92, for a total value of $546,033.56. Following the completion of the transaction, the director now directly owns 7,891 shares in the company, valued at $449,155.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nolan E. Karras sold 2,000 shares of Merit Medical Systems stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $61.28, for a total value of $122,560.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,593 shares of company stock valued at $2,501,846. 5.16% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Hawaiian Bank purchased a new position in Merit Medical Systems during the third quarter worth about $107,000. Mutual Advisors LLC purchased a new stake in shares of Merit Medical Systems in the 2nd quarter worth approximately $208,000. Intrust Bank NA purchased a new stake in shares of Merit Medical Systems in the 2nd quarter worth approximately $211,000. Alpha Cubed Investments LLC purchased a new stake in shares of Merit Medical Systems in the 3rd quarter worth approximately $211,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Merit Medical Systems by 10,444.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 471,864 shares of the medical instruments supplier’s stock worth $219,000 after buying an additional 467,389 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.
About Merit Medical Systems
Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.
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