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

Barrington Research reissued their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a research report report published on Tuesday, Benzinga reports. Barrington Research currently has a $98.00 price target on the medical instruments supplier’s stock.

MMSI has been the subject of several other research reports. StockNews.com downgraded Merit Medical Systems from a buy rating to a hold rating in a research note on Friday, April 12th. Piper Sandler lifted their price target on Merit Medical Systems from $88.00 to $95.00 and gave the stock an overweight rating in a research note on Friday, January 12th. Oppenheimer lifted their price target on Merit Medical Systems from $82.00 to $87.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Needham & Company LLC reiterated a buy rating and set a $88.00 price objective on shares of Merit Medical Systems in a research report on Thursday, April 11th. Finally, Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $102.00 to $112.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of Moderate Buy and an average price target of $92.50.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $72.03 on Tuesday. Merit Medical Systems has a one year low of $62.58 and a one year high of $85.62. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.95 and a current ratio of 5.45. The business has a fifty day moving average of $75.08 and a two-hundred day moving average of $73.50. The company has a market cap of $4.18 billion, a P/E ratio of 44.46, a price-to-earnings-growth ratio of 1.98 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.04. The business had revenue of $324.52 million during the quarter, compared to the consensus estimate of $320.66 million. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, analysts predict that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the completion of the sale, the director now owns 19,257 shares in the company, valued at approximately $1,464,109.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the completion of the sale, the director now owns 19,257 shares in the company, valued at approximately $1,464,109.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The disclosure for this sale can be found here. Insiders sold 69,637 shares of company stock worth $5,351,673 in the last 90 days. 3.70% of the stock is owned by company insiders.

Institutional Trading of Merit Medical Systems

Institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in shares of Merit Medical Systems during the 4th quarter worth about $26,000. State of Wyoming purchased a new stake in shares of Merit Medical Systems during the 2nd quarter worth about $28,000. Valued Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter worth about $29,000. Parallel Advisors LLC grew its holdings in shares of Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares during the period. Finally, Belpointe Asset Management LLC grew its holdings in shares of Merit Medical Systems by 53.8% during the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 175 shares during the period. 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.