Merit Medical Systems (NASDAQ:MMSI) had its target price increased by Piper Sandler from to in a report released on Tuesday, The Fly reports.
Other analysts have also issued research reports about the company. BidaskClub upgraded Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday. Needham & Company LLC reaffirmed a “hold” rating on shares of Merit Medical Systems in a research report on Thursday, October 31st. ValuEngine raised Merit Medical Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barrington Research cut their price objective on Merit Medical Systems from $59.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price objective (down previously from $53.00) on shares of Merit Medical Systems in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $42.22.
NASDAQ:MMSI traded up $3.75 during midday trading on Tuesday, hitting $38.40. 1,464,591 shares of the company traded hands, compared to its average volume of 1,009,177. The firm’s fifty day moving average is $30.99 and its 200-day moving average is $35.01. Merit Medical Systems has a 12-month low of $19.50 and a 12-month high of $63.64. The firm has a market capitalization of $1.91 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.63 and a beta of 1.14. The company has a current ratio of 2.88, a quick ratio of 1.47 and a debt-to-equity ratio of 0.53.
In other news, CFO Raul Jr. Parra purchased 2,525 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $25.50 per share, with a total value of $64,387.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Enterprise Associates 14 New purchased 935,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $15.59 per share, for a total transaction of $14,576,650.00. Corporate insiders own 4.75% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of MMSI. Tower Research Capital LLC TRC lifted its stake in shares of Merit Medical Systems by 20,825.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,674 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 1,666 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Merit Medical Systems by 803.1% in the third quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the medical instruments supplier’s stock valued at $89,000 after buying an additional 2,610 shares during the last quarter. BB&T Corp raised its stake in Merit Medical Systems by 99.9% in the third quarter. BB&T Corp now owns 6,825 shares of the medical instruments supplier’s stock valued at $207,000 after buying an additional 3,411 shares during the last quarter. Wellington Shields & Co. LLC purchased a new stake in Merit Medical Systems in the third quarter valued at about $244,000. Finally, Cubist Systematic Strategies LLC raised its stake in Merit Medical Systems by 416.1% in the second quarter. Cubist Systematic Strategies LLC now owns 4,124 shares of the medical instruments supplier’s stock valued at $246,000 after buying an additional 3,325 shares during the last quarter. 97.43% of the stock is currently owned by institutional investors and hedge funds.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc manufactures and markets 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 peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions.
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