Analysts Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Target Price at $114.33

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) has received a consensus rating of "Buy" from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $113.89.

A number of research firms have issued reports on MMSI. Barrington Research reaffirmed an "outperform" rating and set a $111.00 price objective on shares of Merit Medical Systems in a report on Friday, April 11th. Wells Fargo & Company cut their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Canaccord Genuity Group decreased their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. started coverage on Merit Medical Systems in a research note on Friday, March 28th. They issued an "overweight" rating and a $120.00 target price on the stock. Finally, Raymond James increased their price target 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.

Insider Buying and Selling at Merit Medical Systems

In related news, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the sale, the director now directly owns 4,657 shares in the company, valued at $490,428.67. The trade was a 51.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Raul Jr. Parra sold 12,451 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the sale, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,391,300.81. The trade was a 33.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,132 shares of company stock worth $11,139,521 over the last three months. Company insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently made changes to their positions in MMSI. Barclays PLC raised its position in shares of Merit Medical Systems by 305.4% during the 3rd quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier's stock valued at $11,142,000 after buying an additional 84,923 shares in the last quarter. EULAV Asset Management increased its position in shares of Merit Medical Systems by 400.0% during the fourth quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier's stock worth $11,123,000 after purchasing an additional 92,000 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Merit Medical Systems by 13.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the medical instruments supplier's stock valued at $839,000 after purchasing an additional 1,049 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Merit Medical Systems by 85.6% during the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier's stock worth $56,921,000 after buying an additional 265,648 shares during the period. Finally, AMI Asset Management Corp increased its holdings in shares of Merit Medical Systems by 28.7% in the fourth quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier's stock valued at $3,196,000 after purchasing an additional 7,367 shares during the period. Hedge funds and other institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Up 2.4 %

Shares of Merit Medical Systems stock traded up $2.20 on Friday, hitting $93.65. The company had a trading volume of 433,908 shares, compared to its average volume of 487,179. Merit Medical Systems has a 1 year low of $72.81 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The stock has a 50 day moving average of $99.45 and a 200-day moving average of $100.57. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 45.91, a P/E/G ratio of 2.34 and a beta of 0.85.

About Merit Medical Systems

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.