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

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Barrington Research in a research note issued on Tuesday, Benzinga reports. They presently have a $98.00 price target on the medical instruments supplier’s stock. Barrington Research’s price target suggests a potential upside of 37.04% from the stock’s previous close.

MMSI has been the subject of several other reports. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Raymond James boosted their target price on shares of Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $88.00 target price on shares of Merit Medical Systems in a research report on Thursday, April 11th. Piper Sandler boosted their target price on shares of Merit Medical Systems from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Finally, Canaccord Genuity Group raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Thursday, December 21st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Merit Medical Systems Trading Down 1.7 %

NASDAQ:MMSI opened at $71.51 on Tuesday. The company has a current ratio of 5.45, a quick ratio of 3.95 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 44.14, a PEG ratio of 2.01 and a beta of 0.89. The firm has a fifty day simple moving average of $75.41 and a two-hundred day simple moving average of $73.49. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $85.62.

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

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems 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 value of $1,600,000.00. Following the transaction, the director now directly owns 29,960 shares in the company, valued at $2,396,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Merit Medical Systems news, insider Joseph Wright sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $75.68, for a total value of $1,892,000.00. Following the transaction, the insider now directly owns 42,223 shares in the company, valued at $3,195,436.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director F. Ann Millner sold 20,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,396,800. The disclosure for this sale can be found here. Insiders have sold a total of 69,637 shares of company stock worth $5,351,673 over the last three months. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Merit Medical Systems

A number of institutional investors have recently modified their holdings of the business. Guidance Capital Inc. purchased a new stake in shares of Merit Medical Systems during the 1st quarter valued at approximately $403,000. Congress Asset Management Co. MA lifted its stake in shares of Merit Medical Systems by 4,411.3% during the 1st quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after buying an additional 506,992 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Merit Medical Systems during the 4th quarter valued at approximately $96,000. Nomura Holdings Inc. purchased a new stake in shares of Merit Medical Systems during the 4th quarter valued at approximately $346,000. Finally, Barclays PLC lifted its stake in shares of Merit Medical Systems by 133.2% during the 4th quarter. Barclays PLC now owns 104,722 shares of the medical instruments supplier’s stock valued at $7,955,000 after buying an additional 59,813 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.