Barrington Research Reiterates Outperform Rating for Merit Medical Systems (NASDAQ:MMSI)

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “outperform” rating reaffirmed by investment analysts at Barrington Research in a report issued on Tuesday, Benzinga reports. They presently have a $100.00 price objective on the medical instruments supplier’s stock. Barrington Research’s target price would suggest a potential upside of 16.48% from the stock’s previous close.

MMSI has been the subject of a number of other research reports. Needham & Company LLC upped their price objective on shares of Merit Medical Systems from $85.00 to $93.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler upped their price objective on shares of Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. CL King assumed coverage on shares of Merit Medical Systems in a research report on Thursday, April 11th. They issued a “buy” rating and a $88.00 price objective for the company. Canaccord Genuity Group upped their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Baird R W upgraded shares of Merit Medical Systems to a “strong-buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a hold rating, ten have given 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 “Buy” and a consensus target price of $96.20.

Merit Medical Systems Stock Performance

MMSI stock opened at $85.85 on Tuesday. The business’s fifty day moving average is $81.33 and its 200-day moving average is $77.91. The company has a quick ratio of 4.38, a current ratio of 6.03 and a debt-to-equity ratio of 0.65. The company has a market cap of $4.99 billion, a P/E ratio of 49.34, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $87.44.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The company had revenue of $323.51 million for the quarter, compared to the consensus estimate of $315.57 million. During the same quarter in the prior year, the business posted $0.64 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Merit Medical Systems will post 3.27 EPS for the current year.

Insider Transactions at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of the 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 completion of the transaction, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Neil Peterson sold 7,500 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $81.85, for a total transaction of $613,875.00. Following the completion of the transaction, the chief operating officer now directly owns 14,819 shares in the company, valued at approximately $1,212,935.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director F. Ann Millner sold 12,500 shares of the 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 transaction, the director now owns 32,391 shares of the company’s stock, valued at $2,753,235. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several hedge funds have recently bought and sold shares of the company. Renaissance Group LLC lifted its stake in Merit Medical Systems by 0.6% in the 4th quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock valued at $1,863,000 after purchasing an additional 144 shares during the last quarter. Entropy Technologies LP lifted its stake in Merit Medical Systems by 6.5% in the 1st quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock valued at $251,000 after purchasing an additional 203 shares during the last quarter. Parallel Advisors LLC lifted its stake in Merit Medical Systems by 114.6% in 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. Diversified Trust Co lifted its stake in Merit Medical Systems by 3.0% in the 3rd quarter. Diversified Trust Co now owns 10,150 shares of the medical instruments supplier’s stock valued at $701,000 after purchasing an additional 292 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in Merit Medical Systems by 10.3% in the 1st quarter. CreativeOne Wealth LLC now owns 4,003 shares of the medical instruments supplier’s stock valued at $303,000 after purchasing an additional 375 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

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.