JPMorgan Chase & Co. Begins Coverage on Merit Medical Systems (NASDAQ:MMSI)

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Merit Medical Systems (NASDAQ:MMSI - Get Free Report) in a report released on Friday, Marketbeat.com reports. The firm set an "overweight" rating and a $120.00 price target on the medical instruments supplier's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 14.08% from the stock's current price.

Other research analysts also recently issued reports about the company. Needham & Company LLC dropped their price target on Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Raymond James lifted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday, December 31st. Wells Fargo & Company reduced their price objective on shares of Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group decreased their target price on Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, Barrington Research decreased their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and an average target price of $111.70.

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Merit Medical Systems Trading Down 0.5 %

NASDAQ MMSI traded down $0.53 during trading hours on Friday, hitting $105.19. 126,810 shares of the company's stock were exchanged, compared to its average volume of 451,512. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 51.53, a PEG ratio of 2.34 and a beta of 0.91. Merit Medical Systems has a 1-year low of $70.70 and a 1-year high of $111.45. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $104.36 and a 200 day simple moving average of $101.13.

Insider Activity

In other news, insider Brian G. Lloyd sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total value of $3,087,000.00. Following the transaction, the insider now owns 38,945 shares in the company, valued at approximately $4,007,440.50. This trade represents a 43.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the completion of the transaction, the chief executive officer now owns 1,086,028 shares in the company, valued at $112,794,868.08. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,132 shares of company stock worth $11,139,521 in the last three months. Corporate insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Merit Medical Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewSquare Capital LLC bought a new position in Merit Medical Systems in the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Merit Medical Systems in the fourth quarter worth approximately $52,000. Federated Hermes Inc. boosted its stake in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after buying an additional 381 shares during the last quarter. Group One Trading LLC bought a new stake in shares of Merit Medical Systems during the 4th quarter valued at about $77,000. Finally, Smartleaf Asset Management LLC grew its position in Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock valued at $134,000 after buying an additional 977 shares during the period. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.