Merit Medical Systems (NASDAQ:MMSI) Sees Strong Trading Volume – Still a Buy?

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) saw strong trading volume on Friday . 386,772 shares were traded during mid-day trading, a decline of 20% from the previous session’s volume of 486,226 shares.The stock last traded at $102.54 and had previously closed at $102.07.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Raymond James increased their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Barrington Research reissued an “outperform” rating and set a $114.00 target price on shares of Merit Medical Systems in a research report on Monday, December 23rd. Robert W. Baird upped their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Canaccord Genuity Group upped their price objective on Merit Medical Systems from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two investment 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, the company has a consensus rating of “Moderate Buy” and an average price target of $107.70.

Merit Medical Systems Price Performance

The firm has a 50 day moving average price of $101.00 and a two-hundred day moving average price of $95.77. The company has a market cap of $6.00 billion, a P/E ratio of 50.49, a P/E/G ratio of 2.15 and a beta of 0.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The firm had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. During the same quarter last year, the company earned $0.75 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the completion of the transaction, the chief financial officer now owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the sale, the director now directly owns 32,391 shares in the company, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMSI. Tidal Investments LLC raised its holdings in shares of Merit Medical Systems by 1.0% in the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock valued at $1,028,000 after acquiring an additional 104 shares in the last quarter. American Century Companies Inc. lifted its position in Merit Medical Systems by 2.9% during the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after purchasing an additional 118 shares during the last quarter. Xponance Inc. lifted its position in Merit Medical Systems by 4.9% during the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock valued at $311,000 after purchasing an additional 170 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Merit Medical Systems by 0.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock worth $2,830,000 after buying an additional 170 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock valued at $735,000 after buying an additional 187 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

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.