Merit Medical Systems (NASDAQ:MMSI) Given “Outperform” Rating at Barrington Research

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “outperform” rating reiterated by Barrington Research in a report released on Friday,Benzinga reports. They currently have a $106.00 price target on the medical instruments supplier’s stock. Barrington Research’s price target would suggest a potential upside of 24.35% from the company’s current price.

MMSI has been the subject of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a report on Tuesday. Wells Fargo & Company reduced their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday. Canaccord Genuity Group dropped their target price on Merit Medical Systems from $104.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Friday, October 31st. Finally, Zacks Research upgraded shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $104.50.

Merit Medical Systems Stock Performance

Merit Medical Systems stock traded down $2.15 during mid-day trading on Friday, reaching $85.25. The company’s stock had a trading volume of 982,813 shares, compared to its average volume of 646,683. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. Merit Medical Systems has a twelve month low of $78.12 and a twelve month high of $111.45. The business has a 50 day moving average price of $84.42 and a 200-day moving average price of $88.96. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 43.23, a PEG ratio of 2.62 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company had revenue of $384.16 million for the quarter, compared to the consensus estimate of $371.69 million. During the same period last year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. Sell-side analysts predict that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

Insider Activity

In related news, Director Lynne N. Ward sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the transaction, the director owned 12,809 shares in the company, valued at $1,134,365.04. This trade represents a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Maseco LLP bought a new stake in Merit Medical Systems in the second quarter worth about $28,000. IFP Advisors Inc grew its stake in shares of Merit Medical Systems by 1,435.0% in the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 287 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Merit Medical Systems by 55.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 134 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Merit Medical Systems in the 3rd quarter worth approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Merit Medical Systems by 119.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 200 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.