Merit Medical Systems (NASDAQ:MMSI) Receives Outperform Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a research report report published on Thursday morning, Benzinga reports. They currently have a $114.00 price objective on the medical instruments supplier’s stock. 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.

Several other research analysts also recently issued reports on MMSI. Needham & Company LLC reaffirmed a “buy” rating and set a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday. Robert W. Baird lifted their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday. Bank of America increased their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Three 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.36.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $98.80 on Thursday. The company has a quick ratio of 4.64, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $96.60 and a 200 day moving average price of $88.11. The company has a market cap of $5.76 billion, a P/E ratio of 48.43, a PEG ratio of 2.45 and a beta of 0.89. Merit Medical Systems has a 52 week low of $65.46 and a 52 week high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 earnings per share. Research analysts predict that Merit Medical Systems will post 3.36 earnings per share for the current year.

Institutional Investors Weigh In On Merit Medical Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in MMSI. Atria Investments Inc lifted its position in Merit Medical Systems by 25.5% during the third quarter. Atria Investments Inc now owns 10,461 shares of the medical instruments supplier’s stock worth $1,034,000 after buying an additional 2,127 shares during the period. Impax Asset Management Group plc acquired a new position in shares of Merit Medical Systems during the 3rd quarter valued at about $11,860,000. QRG Capital Management Inc. lifted its holdings in shares of Merit Medical Systems by 16.9% during the 3rd quarter. QRG Capital Management Inc. now owns 8,572 shares of the medical instruments supplier’s stock worth $847,000 after acquiring an additional 1,240 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Merit Medical Systems in the third quarter worth approximately $718,000. Finally, Farther Finance Advisors LLC grew its holdings in Merit Medical Systems by 32.7% in the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors 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.