Merit Medical Systems (NASDAQ:MMSI) Earns “Outperform” Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $114.00 price target on the medical instruments supplier’s stock.

Several other analysts have also weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a research note on Monday, September 16th. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. Wells Fargo & Company raised their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Bank of America raised their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Two research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $95.50 on Friday. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. Merit Medical Systems has a 52-week low of $63.13 and a 52-week high of $101.60. The company has a 50-day simple moving average of $95.71 and a 200-day simple moving average of $86.60. The company has a market capitalization of $5.55 billion, a PE ratio of 54.89, a P/E/G ratio of 2.41 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. Equities research analysts predict that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new stake in Merit Medical Systems during the 2nd quarter valued at $29,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Merit Medical Systems during the 1st quarter worth about $44,000. Headlands Technologies LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter worth about $50,000. USA Financial Formulas acquired a new position in Merit Medical Systems in the 3rd quarter valued at about $59,000. Finally, EntryPoint Capital LLC grew its stake in Merit Medical Systems by 2,666.7% in the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 880 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors.

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.