Merit Medical Systems, Inc. (MMSI) Receives Average Recommendation of “Buy” from Analysts

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Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been assigned an average rating of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $67.60.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, January 3rd. Canaccord Genuity boosted their price target on shares of Merit Medical Systems from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, October 26th. ValuEngine raised shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 24th. BidaskClub cut shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $73.00 price target on shares of Merit Medical Systems in a research report on Monday, December 17th.

Shares of MMSI opened at $57.86 on Thursday. Merit Medical Systems has a 1-year low of $42.45 and a 1-year high of $66.34. The firm has a market capitalization of $3.16 billion, a P/E ratio of 45.20, a P/E/G ratio of 2.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.77 and a quick ratio of 1.47.

In other news, EVP Justin J. Lampropoulos sold 20,000 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $61.01, for a total value of $1,220,200.00. Following the completion of the sale, the executive vice president now directly owns 20,000 shares of the company’s stock, valued at $1,220,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nolan E. Karras sold 2,000 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $61.28, for a total transaction of $122,560.00. The disclosure for this sale can be found here. Insiders sold 26,743 shares of company stock valued at $1,633,506 over the last ninety days. Corporate insiders own 5.16% of the company’s stock.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Merit Medical Systems by 13.3% in the third quarter. BlackRock Inc. now owns 7,985,361 shares of the medical instruments supplier’s stock valued at $490,700,000 after buying an additional 939,589 shares during the last quarter. Vanguard Group Inc. raised its holdings in Merit Medical Systems by 11.0% during the third quarter. Vanguard Group Inc. now owns 5,286,818 shares of the medical instruments supplier’s stock worth $324,875,000 after purchasing an additional 522,994 shares in the last quarter. Vanguard Group Inc raised its holdings in Merit Medical Systems by 11.0% during the third quarter. Vanguard Group Inc now owns 5,286,818 shares of the medical instruments supplier’s stock worth $324,875,000 after purchasing an additional 522,994 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Merit Medical Systems by 1.0% during the third quarter. Eagle Asset Management Inc. now owns 2,045,983 shares of the medical instruments supplier’s stock worth $125,725,000 after purchasing an additional 19,863 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Merit Medical Systems by 950.2% during the third quarter. Point72 Asset Management L.P. now owns 1,345,468 shares of the medical instruments supplier’s stock worth $82,679,000 after purchasing an additional 1,217,352 shares in the last quarter. 98.53% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

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