Merit Medical Systems (NASDAQ:MMSI) Upgraded by BTIG Research to Strong-Buy Rating

Merit Medical Systems (NASDAQ:MMSI) was upgraded by equities researchers at BTIG Research to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

A number of other brokerages also recently weighed in on MMSI. Wells Fargo & Company lowered their price target on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, November 14th. Zacks Research lowered Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Piper Sandler reaffirmed an “overweight” rating and set a $109.00 target price (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 29th. Finally, Canaccord Genuity Group raised their price target on shares of Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Merit Medical Systems Trading Up 3.6%

NASDAQ MMSI opened at $82.50 on Friday. The firm’s 50 day moving average price is $84.92 and its two-hundred day moving average price is $85.22. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.86 and a current ratio of 4.28. Merit Medical Systems has a twelve month low of $78.12 and a twelve month high of $110.67. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 42.31, a PEG ratio of 2.16 and a beta of 0.61.

Insider Activity at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total value of $880,400.00. Following the completion of the sale, the chairman owned 1,019,955 shares of the company’s stock, valued at approximately $89,796,838.20. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 60,000 shares of company stock valued at $5,189,900. Insiders own 3.20% of the company’s stock.

Institutional Trading of Merit Medical Systems

Institutional investors have recently added to or reduced their stakes in the business. Maseco LLP acquired a new position in shares of Merit Medical Systems during the 4th quarter worth $26,000. Salomon & Ludwin LLC bought a new stake in Merit Medical Systems in the third quarter worth $37,000. Torren Management LLC acquired a new position in Merit Medical Systems during the fourth quarter worth $38,000. Covestor Ltd increased its position in Merit Medical Systems by 252.6% during the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier’s stock worth $41,000 after buying an additional 336 shares during the last quarter. Finally, Danske Bank A S bought a new position in Merit Medical Systems during the third quarter valued at about $42,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.