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

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “outperform” rating reissued by research analysts at Barrington Research in a report released on Monday,Benzinga reports. They presently have a $114.00 price objective on the medical instruments supplier’s stock. Barrington Research’s target price indicates a potential upside of 16.07% from the company’s previous close.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Bank of America boosted 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 note on Monday, September 16th. Piper Sandler restated an “overweight” rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird boosted their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $109.00 target price on shares of Merit Medical Systems in a report on Thursday, October 31st. Two 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.60.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $98.22 on Monday. Merit Medical Systems has a fifty-two week low of $70.70 and a fifty-two week high of $108.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The stock has a market cap of $5.72 billion, a P/E ratio of 48.15, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. The firm’s fifty day moving average price is $100.75 and its 200-day moving average price is $93.94.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. During the same quarter last year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the transaction, the chief financial officer now owns 16,361 shares in the company, valued at $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the completion of the sale, the director now owns 32,391 shares of the company’s stock, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of Merit Medical Systems in the 3rd quarter valued at approximately $59,000. National Bank of Canada FI bought a new stake in shares of Merit Medical Systems during the 2nd quarter valued at $77,000. Anfield Capital Management LLC purchased a new stake in shares of Merit Medical Systems in the 2nd quarter worth about $86,000. Farther Finance Advisors LLC increased its stake in shares of Merit Medical Systems by 32.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after acquiring an additional 260 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Merit Medical Systems during the 2nd quarter valued at about $112,000. Hedge funds and other 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.