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

Barrington Research restated their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a report issued on Monday morning,Benzinga reports. They currently have a $114.00 price objective on the medical instruments supplier’s stock.

Several other research firms have also issued reports on MMSI. Wells Fargo & Company raised Merit Medical Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $103.00 to $120.00 in a research note on Wednesday, December 11th. Canaccord Genuity Group raised their price target on Merit Medical Systems from $125.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. 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. Finally, StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.60.

Merit Medical Systems Trading Down 0.6 %

Shares of MMSI stock opened at $97.61 on Monday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 47.85, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. Merit Medical Systems has a 12-month low of $70.70 and a 12-month high of $108.07. The stock’s 50-day moving average price is $100.79 and its 200-day moving average price is $94.04.

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

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the sale, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. This trade represents a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $1,269,375.00. Following the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. The trade was a 27.85 % decrease in their ownership of the stock. 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 institutional investors and hedge funds have recently added to or reduced their stakes in MMSI. William Blair Investment Management LLC grew its position in shares of Merit Medical Systems by 0.3% in the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after purchasing an additional 10,512 shares during the period. Conestoga Capital Advisors LLC lifted its stake in Merit Medical Systems by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock valued at $226,236,000 after buying an additional 38,780 shares in the last quarter. State Street Corp boosted its holdings in Merit Medical Systems by 0.7% in the 3rd quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock worth $220,559,000 after buying an additional 15,098 shares during the last quarter. FMR LLC increased its stake in Merit Medical Systems by 70.1% during the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after buying an additional 649,799 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Merit Medical Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,357,265 shares of the medical instruments supplier’s stock valued at $134,165,000 after acquiring an additional 17,490 shares during the last quarter. Hedge funds and other institutional investors 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.