Barrington Research Boosts Merit Medical Systems (NASDAQ:MMSI) Price Target to $114.00

Merit Medical Systems (NASDAQ:MMSI) had its target price lifted by analysts at Barrington Research from $100.00 to $114.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price objective indicates a potential upside of 14.50% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company lifted their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Bank of America boosted their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity Group lifted their target price on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.82.

Merit Medical Systems Stock Performance

MMSI opened at $99.56 on Friday. Merit Medical Systems has a 12-month low of $62.58 and a 12-month high of $101.25. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $5.79 billion, a PE ratio of 57.22, a P/E/G ratio of 2.53 and a beta of 0.87. The firm has a 50 day moving average of $91.73 and a two-hundred day moving average of $83.16.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The company had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. On average, analysts anticipate that Merit Medical Systems will post 3.31 EPS for the current year.

Insiders Place Their Bets

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the sale, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of large investors have recently made changes to their positions in MMSI. Vanguard Personalized Indexing Management LLC increased its stake in shares of Merit Medical Systems by 17.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,684 shares of the medical instruments supplier’s stock worth $280,000 after buying an additional 552 shares during the period. Norges Bank purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $38,165,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $334,000. Trexquant Investment LP purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $2,427,000. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $276,000. 99.66% of the stock is currently 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.