Merit Medical Systems (NASDAQ:MMSI) Hits New 52-Week High at $97.32

Merit Medical Systems, Inc. (NASDAQ:MMSI)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $97.32 and last traded at $97.31, with a volume of 199812 shares changing hands. The stock had previously closed at $96.26.

Analysts Set New Price Targets

MMSI has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on shares of Merit Medical Systems from $97.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC lifted their price target on Merit Medical Systems from $94.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Robert W. Baird started coverage on Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 price target for the company. Bank of America boosted their price target on shares of Merit Medical Systems from $87.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, StockNews.com upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $98.20.

Merit Medical Systems Price Performance

The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $5.61 billion, a P/E ratio of 55.51, a PEG ratio of 2.51 and a beta of 0.88. The company has a fifty day simple moving average of $89.33 and a two-hundred day simple moving average of $81.77.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. Sell-side analysts expect that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Insider Transactions at Merit Medical Systems

In other news, COO Neil Peterson sold 7,500 shares of Merit Medical Systems stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $81.85, for a total value of $613,875.00. Following the completion of the transaction, the chief operating officer now owns 14,819 shares of the company’s stock, valued at approximately $1,212,935.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $81.85, for a total transaction of $613,875.00. Following the completion of the sale, the chief operating officer now directly owns 14,819 shares in the company, valued at $1,212,935.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the sale, the director now owns 32,391 shares of the company’s stock, valued at $2,753,235. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Merit Medical Systems

Large investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC bought a new position in Merit Medical Systems in the 2nd quarter valued at about $29,000. Parallel Advisors LLC lifted its stake in Merit Medical Systems by 114.6% during the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Merit Medical Systems during the first quarter worth $44,000. Headlands Technologies LLC acquired a new stake in shares of Merit Medical Systems in the 1st quarter valued at $50,000. Finally, EntryPoint Capital LLC increased its stake in shares of Merit Medical Systems by 2,666.7% in the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after purchasing an additional 880 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

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.