Merit Medical Systems (NASDAQ:MMSI) Now Covered by Analysts at BTIG Research

BTIG Research initiated coverage on shares of Merit Medical Systems (NASDAQ:MMSI) in a research note released on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $107.00 price objective on the medical instruments supplier’s stock.

Several other equities research analysts have also commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Wells Fargo & Company lowered their target price 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. Needham & Company LLC restated a “buy” rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research note on Friday, January 9th. Barrington Research reiterated an “outperform” rating and issued a $106.00 price target on shares of Merit Medical Systems in a research report on Friday, November 14th. Finally, Zacks Research cut shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Merit Medical Systems Trading Up 3.6%

Shares of Merit Medical Systems stock opened at $82.50 on Friday. The stock has a market capitalization of $4.89 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.86 and a current ratio of 4.28. The stock has a 50 day moving average price of $84.92 and a two-hundred day moving average price of $85.22. Merit Medical Systems has a 52 week low of $78.12 and a 52 week high of $110.67.

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 on Tuesday, November 25th. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 60,000 shares of company stock valued at $5,189,900 in the last three months. 3.20% of the stock is owned by insiders.

Institutional Trading of Merit Medical Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in MMSI. AQR Capital Management LLC lifted its holdings in Merit Medical Systems by 7.3% in the first quarter. AQR Capital Management LLC now owns 16,361 shares of the medical instruments supplier’s stock valued at $1,730,000 after acquiring an additional 1,114 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Merit Medical Systems by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier’s stock valued at $76,039,000 after purchasing an additional 103,878 shares during the period. KLP Kapitalforvaltning AS lifted its stake in shares of Merit Medical Systems by 5.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,100 shares of the medical instruments supplier’s stock valued at $1,131,000 after purchasing an additional 600 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Merit Medical Systems by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,600 shares of the medical instruments supplier’s stock worth $2,580,000 after purchasing an additional 200 shares during the period. Finally, Maryland State Retirement & Pension System increased its position in shares of Merit Medical Systems by 2.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 17,369 shares of the medical instruments supplier’s stock worth $1,624,000 after purchasing an additional 376 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

About Merit Medical Systems

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.