Barrington Research Has Lowered Expectations for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI) had its target price cut by equities researchers at Barrington Research from $115.00 to $111.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s target price would indicate a potential upside of 12.67% from the stock’s previous close.

Several other equities analysts have also issued reports on MMSI. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Piper Sandler reiterated an “overweight” rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Canaccord Genuity Group reduced their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird lifted their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company cut their price objective on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $108.40.

Merit Medical Systems Stock Performance

MMSI stock opened at $98.52 on Wednesday. The firm has a market cap of $5.74 billion, a PE ratio of 48.29, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. 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 50-day moving average price of $102.83 and a 200-day moving average price of $99.88. Merit Medical Systems has a 1-year low of $70.70 and a 1-year high of $111.45.

Institutional Trading of Merit Medical Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. NewSquare Capital LLC bought a new stake in Merit Medical Systems during the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in Merit Medical Systems during the 4th quarter worth $52,000. Federated Hermes Inc. grew its stake in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after acquiring an additional 381 shares in the last quarter. Group One Trading LLC purchased a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $77,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after purchasing an additional 260 shares in the last quarter. 99.66% of the stock is 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.