Barrington Research Boosts Merit Medical Systems (NASDAQ:MMSI) Price Target to $100.00

Merit Medical Systems (NASDAQ:MMSI) had its price target upped by Barrington Research from $98.00 to $100.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the medical instruments supplier’s stock. Barrington Research also issued estimates for Merit Medical Systems’ FY2024 earnings at $3.35 EPS and Q2 2025 earnings at $0.97 EPS.

MMSI has been the topic of several other reports. CL King started coverage on Merit Medical Systems in a research report on Thursday, April 11th. They issued a buy rating and a $88.00 price objective on the stock. Oppenheimer increased their price target on Merit Medical Systems from $82.00 to $87.00 and gave the company an outperform rating in a report on Thursday, February 29th. StockNews.com cut Merit Medical Systems from a buy rating to a hold rating in a report on Wednesday, April 24th. Raymond James increased their price target on Merit Medical Systems from $84.00 to $89.00 and gave the company an outperform rating in a report on Tuesday, January 30th. Finally, Needham & Company LLC lowered their price target on Merit Medical Systems from $88.00 to $85.00 and set a buy rating on the stock in a report on Wednesday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Merit Medical Systems presently has a consensus rating of Moderate Buy and an average target price of $92.78.

Merit Medical Systems Stock Performance

MMSI stock opened at $78.97 on Wednesday. The stock has a market capitalization of $4.59 billion, a PE ratio of 45.39, a price-to-earnings-growth ratio of 2.14 and a beta of 0.91. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $85.62. The company has a current ratio of 6.03, a quick ratio of 3.95 and a debt-to-equity ratio of 0.65. The stock’s 50 day simple moving average is $74.19 and its 200 day simple moving average is $74.10.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. The business had revenue of $323.51 million for the quarter, compared to analysts’ expectations of $315.57 million. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. As a group, research analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Raul Jr. Parra sold 6,480 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Raul Jr. Parra sold 6,480 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the completion of the sale, the director now owns 19,257 shares of the company’s stock, valued at approximately $1,464,109.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,637 shares of company stock valued at $3,751,673. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC raised its holdings in Merit Medical Systems by 15.4% during the third quarter. William Blair Investment Management LLC now owns 3,895,695 shares of the medical instruments supplier’s stock valued at $268,881,000 after acquiring an additional 520,423 shares during the period. Conestoga Capital Advisors LLC raised its holdings in Merit Medical Systems by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 2,174,483 shares of the medical instruments supplier’s stock valued at $164,717,000 after acquiring an additional 22,545 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Merit Medical Systems by 1.2% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,388,905 shares of the medical instruments supplier’s stock valued at $95,862,000 after acquiring an additional 16,488 shares during the period. Dimensional Fund Advisors LP raised its holdings in Merit Medical Systems by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock valued at $99,258,000 after acquiring an additional 41,065 shares during the period. Finally, Loomis Sayles & Co. L P raised its holdings in Merit Medical Systems by 25.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,031,173 shares of the medical instruments supplier’s stock valued at $71,172,000 after acquiring an additional 212,256 shares during the period. 99.66% of the stock is owned by 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.