Merit Medical Systems (NASDAQ:MMSI) PT Raised to $114.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective lifted by equities researchers at Barrington Research from $100.00 to $114.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price target suggests a potential upside of 14.42% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a research report on Monday. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Bank of America upped their target price on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday. Robert W. Baird started coverage on Merit Medical Systems in a research note on Friday, June 28th. They set an “outperform” rating and a $96.00 price target on the stock. Finally, StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $101.82.

Merit Medical Systems Trading Down 0.6 %

Merit Medical Systems stock traded down $0.60 during mid-day trading on Friday, hitting $99.63. The company’s stock had a trading volume of 151,059 shares, compared to its average volume of 448,465. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. The company has a 50 day moving average of $91.46 and a 200-day moving average of $82.94. Merit Medical Systems has a one year low of $62.58 and a one year high of $101.25. The stock has a market cap of $5.79 billion, a PE ratio of 57.26, a P/E/G ratio of 2.53 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. On average, research analysts anticipate that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other news, 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 transaction, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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