Robert W. Baird Issues Pessimistic Forecast for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI - Free Report) had its price objective cut by Robert W. Baird from $111.00 to $110.00 in a research note released on Friday,Benzinga reports. They currently have an outperform rating on the medical instruments supplier's stock.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company cut their target price on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They set an "overweight" rating and a $120.00 price objective on the stock. Barrington Research reissued an "outperform" rating and set a $111.00 price target on shares of Merit Medical Systems in a research report on Friday, April 11th. Needham & Company LLC restated a "buy" rating and set a $116.00 price target on shares of Merit Medical Systems in a report on Wednesday, April 9th. Finally, Piper Sandler decreased their price objective on shares of Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $109.00.

Merit Medical Systems Stock Down 0.1 %

Shares of NASDAQ MMSI traded down $0.06 during mid-day trading on Friday, reaching $94.61. 1,278,090 shares of the company's stock traded hands, compared to its average volume of 497,926. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems has a 1-year low of $73.67 and a 1-year high of $111.45. The stock has a market cap of $5.59 billion, a P/E ratio of 46.38, a PEG ratio of 2.34 and a beta of 0.85. The business has a 50-day simple moving average of $98.60 and a 200 day simple moving average of $100.60.

Insider Buying and Selling

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 31,320 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total value 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. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $105.31, for a total value of $526,550.00. Following the sale, the director now owns 4,657 shares in the company, valued at approximately $490,428.67. This represents a 51.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is owned by insiders.

Institutional Trading of Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems in the first quarter worth $31,000. NewSquare Capital LLC bought a new position in shares of Merit Medical Systems in the fourth quarter worth approximately $32,000. Versant Capital Management Inc raised its stake in Merit Medical Systems by 1,518.5% in the first quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock valued at $46,000 after purchasing an additional 410 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Merit Medical Systems during the fourth quarter valued at approximately $52,000. Finally, Federated Hermes Inc. grew its stake in 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 in the last quarter. 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.