Merit Medical Systems (NASDAQ:MMSI) Given “Outperform” Rating at Barrington Research

Barrington Research reiterated their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a report issued on Tuesday morning,Benzinga reports. They currently have a $103.00 price target on the medical instruments supplier’s stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Friday, July 18th. Wells Fargo & Company dropped their target price on Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Raymond James Financial dropped their target price on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Finally, Piper Sandler dropped their target price on Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Merit Medical Systems has a consensus rating of “Buy” and a consensus target price of $107.50.

Merit Medical Systems Stock Performance

MMSI opened at $83.72 on Tuesday. The business’s 50 day moving average is $86.36 and its 200-day moving average is $92.43. The stock has a market cap of $4.96 billion, a PE ratio of 42.50, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. Merit Medical Systems has a twelve month low of $81.04 and a twelve month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $382.46 million for the quarter, compared to analysts’ expectations of $372.47 million. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, analysts predict that Merit Medical Systems will post 3.37 earnings per share for the current year.

Insider Activity at Merit Medical Systems

In other news, Director Lynne N. Ward sold 3,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the transaction, the director directly owned 12,809 shares in the company, valued at $1,134,365.04. The trade was a 18.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Merit Medical Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems during the 1st quarter valued at $31,000. Maseco LLP purchased a new position in shares of Merit Medical Systems during the 2nd quarter valued at $28,000. IFP Advisors Inc grew its holdings in shares of Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock valued at $32,000 after acquiring an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Merit Medical Systems by 55.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 134 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

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.