A number of other brokerages also recently commented on MMSI. Barrington Research downgraded Merit Medical Systems from an outperform rating to a market perform rating in a research note on Tuesday, February 25th. Piper Sandler restated an overweight rating and set a $50.00 price objective (up from $42.00) on shares of Merit Medical Systems in a research note on Tuesday, February 25th. Raymond James upped their price objective on Merit Medical Systems from $43.00 to $47.00 and gave the stock an outperform rating in a research note on Tuesday, February 25th. Wells Fargo & Co boosted their price target on Merit Medical Systems from $26.00 to $33.00 and gave the stock an underweight rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a hold rating on shares of Merit Medical Systems in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $44.50.
Shares of NASDAQ MMSI traded up $3.08 during trading on Thursday, reaching $33.49. The stock had a trading volume of 453,429 shares, compared to its average volume of 687,176. Merit Medical Systems has a one year low of $19.50 and a one year high of $63.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.26 and a current ratio of 2.50. The stock has a market cap of $1.85 billion, a PE ratio of 372.15, a P/E/G ratio of 1.62 and a beta of 0.90. The firm’s 50 day moving average price is $34.45 and its two-hundred day moving average price is $32.00.
In other news, Director A Scott Anderson sold 6,638 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $37.29, for a total transaction of $247,531.02. Following the completion of the sale, the director now directly owns 11,400 shares of the company’s stock, valued at $425,106. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Franklin J. Miller sold 2,331 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $35.25, for a total value of $82,167.75. Following the sale, the director now directly owns 4,665 shares of the company’s stock, valued at $164,441.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,969 shares of company stock valued at $900,749. Insiders own 4.75% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its holdings in shares of Merit Medical Systems by 1,878.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,088 shares of the medical instruments supplier’s stock valued at $33,000 after purchasing an additional 1,033 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Merit Medical Systems by 97.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,301 shares of the medical instruments supplier’s stock valued at $103,000 after purchasing an additional 1,627 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Merit Medical Systems during the fourth quarter valued at $217,000. Gabelli Funds LLC purchased a new stake in shares of Merit Medical Systems during the fourth quarter valued at $219,000. Finally, CA Family Wealth LLC acquired a new position in Merit Medical Systems during the fourth quarter valued at $251,000. 97.48% of the stock is 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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