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

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “outperform” rating reaffirmed by investment analysts at Barrington Research in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $114.00 price target on the medical instruments supplier’s stock. Barrington Research’s target price would suggest a potential upside of 14.75% from the company’s previous close.

A number of other research firms have also recently weighed in on MMSI. Bank of America increased their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday. Two 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. According to MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $103.36.

Merit Medical Systems Stock Up 4.7 %

Shares of Merit Medical Systems stock traded up $4.45 during trading on Thursday, reaching $99.35. The company had a trading volume of 65,339 shares, compared to its average volume of 434,159. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. Merit Medical Systems has a fifty-two week low of $65.46 and a fifty-two week high of $101.60. The firm’s fifty day moving average is $96.36 and its 200-day moving average is $87.63. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 57.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The firm had revenue of $339.85 million during the quarter, compared to analyst estimates of $334.60 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Merit Medical Systems will post 3.31 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MMSI. Impax Asset Management Group plc acquired a new stake in Merit Medical Systems during the 3rd quarter valued at $11,860,000. QRG Capital Management Inc. increased its stake in shares of Merit Medical Systems by 16.9% in the third quarter. QRG Capital Management Inc. now owns 8,572 shares of the medical instruments supplier’s stock valued at $847,000 after buying an additional 1,240 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Merit Medical Systems in the third quarter valued at about $718,000. Farther Finance Advisors LLC lifted its position in Merit Medical Systems by 32.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after buying an additional 260 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in Merit Medical Systems by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock valued at $226,236,000 after acquiring an additional 38,780 shares in 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.