Barrington Research Issues Pessimistic Forecast for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI) had its price target dropped by research analysts at Barrington Research from $115.00 to $111.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price target would indicate a potential upside of 10.50% from the stock’s previous close.

Several other analysts have also weighed in on MMSI. Needham & Company LLC dropped their price objective on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird raised their price target on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Piper Sandler reissued an “overweight” rating and issued a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Canaccord Genuity Group decreased their target price on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.40.

Merit Medical Systems Price Performance

Shares of MMSI traded down $1.58 during trading hours on Wednesday, hitting $100.45. The stock had a trading volume of 998,791 shares, compared to its average volume of 529,708. Merit Medical Systems has a 52 week low of $70.70 and a 52 week high of $111.45. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 49.24, a P/E/G ratio of 2.34 and a beta of 0.87. The company’s fifty day moving average is $102.72 and its two-hundred day moving average is $99.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MMSI. NewSquare Capital LLC acquired a new position in shares of Merit Medical Systems in the 4th quarter valued at $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in Merit Medical Systems in the fourth quarter valued at about $52,000. Federated Hermes Inc. lifted its stake in Merit Medical Systems by 139.1% in the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after buying an additional 381 shares during the period. Group One Trading LLC bought a new position in Merit Medical Systems during the fourth quarter worth about $77,000. Finally, Farther Finance Advisors LLC boosted its holdings in Merit Medical Systems by 32.7% during the third 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 during the last quarter. Institutional investors own 99.66% of the company’s stock.

About Merit Medical Systems

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.