Merit Medical Systems (NASDAQ:MMSI) Now Covered by Analysts at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems (NASDAQ:MMSI) in a research note issued to investors on Friday,Benzinga reports. The firm set an “overweight” rating and a $120.00 price target on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 16.20% from the company’s previous close.

MMSI has been the topic of several other reports. Needham & Company LLC lowered their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Barrington Research dropped their price target on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Canaccord Genuity Group decreased their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and issued a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Finally, Raymond James raised their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and a consensus price target of $111.70.

Merit Medical Systems Price Performance

MMSI stock opened at $103.27 on Friday. Merit Medical Systems has a one year low of $70.70 and a one year high of $111.45. The firm has a 50-day moving average of $104.28 and a two-hundred day moving average of $100.96. The firm has a market capitalization of $6.08 billion, a PE ratio of 50.62, a P/E/G ratio of 2.34 and a beta of 0.91. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

Insider Activity

In other Merit Medical Systems news, insider Brian G. Lloyd sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the sale, the insider now owns 38,993 shares of the company’s stock, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the sale, the chief executive officer now directly owns 1,086,028 shares of the company’s stock, valued at $112,794,868.08. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds have recently made changes to their positions in the stock. NewSquare Capital LLC acquired a new position in Merit Medical Systems in the 4th quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Merit Medical Systems in the 4th quarter valued at $52,000. Federated Hermes Inc. raised its position in Merit Medical Systems by 139.1% in the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after purchasing an additional 381 shares in the last quarter. Group One Trading LLC bought a new position in Merit Medical Systems during the fourth quarter worth about $77,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock valued at $134,000 after purchasing an additional 977 shares in 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.