Merit Medical Systems’ (MMSI) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research reissued their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a report released on Thursday morning, Benzinga reports. They currently have a $114.00 price objective on the medical instruments supplier’s stock. Barrington Research also issued estimates for Merit Medical Systems’ Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.35 EPS and Q1 2025 earnings at $0.88 EPS.

MMSI has been the topic of several other research reports. Bank of America increased their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Wells Fargo & Company upped their target price on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. StockNews.com upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Robert W. Baird lifted their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Merit Medical Systems currently has an average rating of “Moderate Buy” and a consensus target price of $103.36.

Merit Medical Systems Stock Performance

MMSI opened at $98.80 on Thursday. The company has a fifty day moving average of $96.60 and a 200 day moving average of $88.11. Merit Medical Systems has a fifty-two week low of $65.46 and a fifty-two week high of $101.60. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.64 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, beating analysts’ consensus estimates 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 analyst estimates of $334.60 million. During the same period last year, the firm posted $0.75 earnings per share. Merit Medical Systems’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norden Group LLC acquired a new stake in Merit Medical Systems in the 1st quarter worth about $293,000. Sequoia Financial Advisors LLC purchased a new stake in Merit Medical Systems in the first quarter valued at approximately $336,000. BNP Paribas Financial Markets boosted its holdings in Merit Medical Systems by 55.3% during the 1st quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock valued at $4,011,000 after acquiring an additional 18,863 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Merit Medical Systems in the first quarter valued at approximately $90,000. Finally, FORA Capital LLC acquired a new position in shares of Merit Medical Systems in the first quarter worth $577,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

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.