Merit Medical Systems (NASDAQ:MMSI) Research Coverage Started at Bank of America

Equities research analysts at Bank of America began coverage on shares of Merit Medical Systems (NASDAQ:MMSIGet Free Report) in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm set a “neutral” rating and a $87.00 price target on the medical instruments supplier’s stock. Bank of America‘s price target points to a potential upside of 10.66% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Barrington Research lifted their target price on shares of Merit Medical Systems from $95.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Canaccord Genuity Group raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $76.00 to $100.00 in a research report on Thursday, December 21st. Needham & Company LLC cut their price target on shares of Merit Medical Systems from $96.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Finally, Canaccord Genuity Group raised Merit Medical Systems from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Thursday, December 21st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.13.

View Our Latest Report on MMSI

Merit Medical Systems Trading Up 0.3 %

MMSI stock opened at $78.62 on Wednesday. The firm’s fifty day simple moving average is $75.54 and its two-hundred day simple moving average is $71.17. The company has a quick ratio of 1.50, a current ratio of 3.13 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 45.45, a price-to-earnings-growth ratio of 2.06 and a beta of 0.91. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $85.62.

Insider Activity at Merit Medical Systems

In other news, Director F. Ann Millner sold 20,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the director now owns 29,960 shares in the company, valued at approximately $2,396,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Merit Medical Systems

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Merit Medical Systems by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 652,626 shares of the medical instruments supplier’s stock worth $49,573,000 after purchasing an additional 10,659 shares during the period. MeadowBrook Investment Advisors LLC bought a new stake in Merit Medical Systems during the fourth quarter worth about $292,000. Channing Capital Management LLC increased its position in Merit Medical Systems by 2.8% during the fourth quarter. Channing Capital Management LLC now owns 728,188 shares of the medical instruments supplier’s stock worth $55,313,000 after buying an additional 20,031 shares during the last quarter. M&T Bank Corp increased its position in Merit Medical Systems by 65.0% during the fourth quarter. M&T Bank Corp now owns 29,223 shares of the medical instruments supplier’s stock worth $2,219,000 after buying an additional 11,512 shares during the last quarter. Finally, Natixis Advisors L.P. grew its position in shares of Merit Medical Systems by 13.3% in the fourth quarter. Natixis Advisors L.P. now owns 46,621 shares of the medical instruments supplier’s stock valued at $3,541,000 after purchasing an additional 5,468 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors.

About Merit Medical Systems

(Get Free Report)

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. It operates in two segments, Cardiovascular and Endoscopy. The company provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; 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.

Further Reading

Analyst Recommendations for Merit Medical Systems (NASDAQ:MMSI)

Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.