Barrington Research Reaffirms “Outperform” Rating for Merit Medical Systems (NASDAQ:MMSI)

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $114.00 target price on the medical instruments supplier’s stock. Barrington Research’s price objective suggests a potential upside of 15.38% from the stock’s current price. Barrington Research also issued estimates for Merit Medical Systems’ Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.35 EPS and Q1 2025 earnings at $0.88 EPS.

MMSI has been the topic of several other research reports. Robert W. Baird increased their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Bank of America upped their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company upped their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $103.36.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI opened at $98.80 on Thursday. The business’s fifty day moving average price is $96.60 and its two-hundred day moving average price is $87.89. 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 stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 2.39 and a beta of 0.87. Merit Medical Systems has a fifty-two week low of $65.46 and a fifty-two week high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. Merit Medical Systems had a return on equity of 15.86% and a net margin of 9.05%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. As a group, analysts predict that Merit Medical Systems will post 3.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

Several hedge funds have recently added to or reduced their stakes in MMSI. Opal Wealth Advisors LLC acquired a new position in Merit Medical Systems in the second quarter valued at about $29,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Merit Medical Systems during the first quarter worth about $44,000. Headlands Technologies LLC acquired a new stake in shares of Merit Medical Systems during the first quarter worth about $50,000. USA Financial Formulas acquired a new stake in shares of Merit Medical Systems during the third quarter worth about $59,000. Finally, EntryPoint Capital LLC raised its position in shares of Merit Medical Systems by 2,666.7% during the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 880 shares during the period. 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.