Merit Medical Systems (NASDAQ:MMSI) Sets New 52-Week High at $91.21

Merit Medical Systems, Inc. (NASDAQ:MMSI) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $91.21 and last traded at $90.70, with a volume of 71954 shares traded. The stock had previously closed at $88.66.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Robert W. Baird assumed coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective for the company. Needham & Company LLC raised their target price on shares of Merit Medical Systems from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Canaccord Genuity Group raised their target price on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $97.10.

Merit Medical Systems Stock Down 0.4 %

The company’s fifty day moving average price is $84.97 and its 200-day moving average price is $79.78. The stock has a market cap of $5.26 billion, a P/E ratio of 52.01, a price-to-earnings-growth ratio of 2.38 and a beta of 0.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03.

Insider Transactions at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,753,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction of $613,875.00. Following the completion of the sale, the chief operating officer now owns 14,819 shares in the company, valued at approximately $1,212,935.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction 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 approximately $2,753,235. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several large investors have recently modified their holdings of MMSI. Opal Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems in the 2nd quarter valued at about $29,000. Parallel Advisors LLC raised its holdings in shares of Merit Medical Systems by 114.6% in the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 212 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Merit Medical Systems in the 1st quarter valued at about $44,000. Headlands Technologies LLC bought a new stake in shares of Merit Medical Systems in the 1st quarter valued at about $50,000. Finally, EntryPoint Capital LLC grew its position 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 worth $69,000 after buying an additional 880 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

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.