Merit Medical Systems (NASDAQ:MMSI) Given New $100.00 Price Target at Barrington Research

Merit Medical Systems (NASDAQ:MMSI) had its price target increased by Barrington Research from $98.00 to $100.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price objective would indicate a potential upside of 26.63% from the stock’s current price. Barrington Research also issued estimates for Merit Medical Systems’ FY2024 earnings at $3.35 EPS and Q2 2025 earnings at $0.97 EPS.

Several other brokerages also recently weighed in on MMSI. Piper Sandler upped their target price on shares of Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America assumed coverage on Merit Medical Systems in a research report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 target price for the company. Oppenheimer lifted their target price on Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Raymond James upped their price target 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. Finally, StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $92.78.

Merit Medical Systems Stock Performance

MMSI traded up $1.95 during midday trading on Wednesday, reaching $78.97. The company had a trading volume of 263,069 shares, compared to its average volume of 488,769. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $85.62. The company has a quick ratio of 3.95, a current ratio of 6.03 and a debt-to-equity ratio of 0.65. The company has a market cap of $4.59 billion, a P/E ratio of 45.39, a P/E/G ratio of 2.14 and a beta of 0.91. The business has a 50-day moving average of $74.19 and a two-hundred day moving average of $74.10.

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

Insider Buying and Selling

In related news, insider Joseph Wright sold 25,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the sale, the insider now owns 42,223 shares of the company’s stock, valued at $3,195,436.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Joseph Wright sold 25,000 shares of Merit Medical Systems stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $75.68, for a total value of $1,892,000.00. Following the completion of the transaction, the insider now owns 42,223 shares in the company, valued at $3,195,436.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Raul Jr. Parra sold 6,480 shares of the company’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 value of $479,196.00. Following the sale, the chief financial officer now owns 12,007 shares in the company, valued at $887,917.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,637 shares of company stock worth $3,751,673. Insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of institutional investors have recently bought and sold shares of the stock. Valued Wealth Advisors LLC bought a new position in Merit Medical Systems during the fourth quarter valued at $29,000. Parallel Advisors LLC grew its holdings in Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 212 shares during the last quarter. Tompkins Financial Corp bought a new position in Merit Medical Systems during the 4th quarter valued at about $38,000. Headlands Technologies LLC purchased a new stake in Merit Medical Systems in the 3rd quarter worth about $41,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Merit Medical Systems in the third quarter worth about $67,000. 99.66% of the stock is currently 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.