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

Merit Medical Systems (NASDAQ:MMSI) had its price objective lifted by Barrington Research from $100.00 to $114.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the medical instruments supplier’s stock.

A number of other research firms have also recently weighed in on MMSI. Baird R W raised Merit Medical Systems to a strong-buy rating in a report on Friday, June 28th. Piper Sandler reissued an overweight rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Canaccord Genuity Group upped their price target on Merit Medical Systems from $102.00 to $125.00 and gave the company a buy rating in a research report on Tuesday, July 2nd. Robert W. Baird initiated coverage on Merit Medical Systems in a research report on Friday, June 28th. They issued an outperform rating and a $96.00 price objective for the company. Finally, Needham & Company LLC restated a buy rating and set a $105.00 price target on shares of Merit Medical Systems in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $101.82.

Merit Medical Systems Stock Down 0.7 %

Shares of MMSI stock opened at $99.56 on Friday. Merit Medical Systems has a 1-year low of $62.58 and a 1-year high of $101.25. The stock’s fifty day moving average price is $91.73 and its 200 day moving average price is $83.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 57.22, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87.

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 for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. On average, research analysts expect that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

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

Institutional Trading of Merit Medical Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in MMSI. Congress Asset Management Co. MA grew its holdings in shares of Merit Medical Systems by 4,411.3% during the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock worth $39,275,000 after buying an additional 506,992 shares during the last quarter. Norges Bank acquired a new position in shares of Merit Medical Systems during the 4th quarter worth approximately $38,165,000. Point72 Asset Management L.P. raised its holdings in Merit Medical Systems by 147.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after acquiring an additional 377,851 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Merit Medical Systems by 818.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock valued at $21,151,000 after acquiring an additional 248,140 shares during the last quarter. Finally, F M Investments LLC acquired a new position in Merit Medical Systems in the 2nd quarter valued at $12,550,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.