Merit Medical Systems (NASDAQ:MMSI) Stock Rating Reaffirmed by Barrington Research

Barrington Research reissued their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $98.00 price target on the medical instruments supplier’s stock.

Several other research firms have also recently issued reports on MMSI. Raymond James raised their target price on Merit Medical Systems from $84.00 to $89.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. Canaccord Genuity Group boosted their target price on Merit Medical Systems from $102.00 to $112.00 and gave the company a buy rating in a research note on Thursday, February 29th. Piper Sandler raised their price target on Merit Medical Systems from $88.00 to $95.00 and gave the stock an overweight rating in a research note on Friday, January 12th. Bank of America started coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They set a neutral rating and a $87.00 price objective on the stock. Finally, Canaccord Genuity Group raised shares of Merit Medical Systems from a hold rating to a buy rating and set a $100.00 target price for the company in a research report on Thursday, December 21st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $92.50.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $72.75 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.45 and a quick ratio of 3.95. Merit Medical Systems has a one year low of $62.58 and a one year high of $85.62. The business’s 50 day simple moving average is $75.53 and its two-hundred day simple moving average is $73.50. The stock has a market capitalization of $4.22 billion, a P/E ratio of 44.91, a price-to-earnings-growth ratio of 2.02 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 EPS for the quarter, topping the consensus estimate of $0.77 by $0.04. The company had revenue of $324.52 million for the quarter, compared to the consensus estimate of $320.66 million. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. Analysts forecast that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Activity at Merit Medical Systems

In related news, Director F. Ann Millner sold 20,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the sale, the director now owns 29,960 shares of the company’s stock, valued at $2,396,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Raul Jr. Parra sold 6,480 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now owns 12,007 shares of the company’s stock, valued at $887,917.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director F. Ann Millner sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the director now owns 29,960 shares of the company’s stock, valued at $2,396,800. The disclosure for this sale can be found here. Insiders sold a total of 69,637 shares of company stock valued at $5,351,673 in the last three months. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Group LLC boosted its position in shares of Merit Medical Systems by 0.6% during the fourth quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock valued at $1,863,000 after buying an additional 144 shares during the last quarter. Cim Investment Management Inc. boosted its holdings in shares of Merit Medical Systems by 3.5% during the 1st quarter. Cim Investment Management Inc. now owns 4,381 shares of the medical instruments supplier’s stock valued at $324,000 after acquiring an additional 150 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Merit Medical Systems by 13.2% in the first quarter. First Horizon Advisors Inc. now owns 1,300 shares of the medical instruments supplier’s stock worth $96,000 after acquiring an additional 152 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of Merit Medical Systems by 53.8% during the first quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 175 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Merit Medical Systems by 12.3% during the third quarter. Tower Research Capital LLC TRC now owns 1,773 shares of the medical instruments supplier’s stock valued at $122,000 after purchasing an additional 194 shares during the period. Institutional investors 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.