Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $100.00 at Barrington Research

Merit Medical Systems (NASDAQ:MMSI) had its target price lifted by Barrington Research from $98.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the medical instruments supplier’s stock.

MMSI has been the subject of several other reports. StockNews.com downgraded Merit Medical Systems from a buy rating to a hold rating in a research note on Wednesday, April 24th. Raymond James boosted their price target on shares of Merit Medical Systems from $84.00 to $89.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Bank of America initiated coverage on shares of Merit Medical Systems in a report on Wednesday, February 7th. They issued a neutral rating and a $87.00 price objective for the company. CL King began coverage on Merit Medical Systems in a report on Thursday, April 11th. They set a buy rating and a $88.00 target price on the stock. Finally, Oppenheimer increased their price target on Merit Medical Systems from $82.00 to $87.00 and gave the company an outperform rating in a report on Thursday, February 29th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of Moderate Buy and an average price target of $92.78.

Merit Medical Systems Stock Up 3.4 %

NASDAQ:MMSI opened at $76.63 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.45 and a quick ratio of 3.95. The company’s fifty day moving average price is $74.26 and its 200-day moving average price is $73.99. Merit Medical Systems has a 1-year low of $62.58 and a 1-year high of $85.62. The firm has a market capitalization of $4.45 billion, a P/E ratio of 44.04, a PEG ratio of 2.07 and a beta of 0.91.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $323.51 million for the quarter, compared to the consensus estimate of $315.57 million. Merit Medical Systems had a return on equity of 15.11% and a net margin of 7.94%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, equities research analysts anticipate that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Transactions at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 6,480 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the sale, the chief financial officer now owns 12,007 shares in the company, valued at approximately $887,917.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Raul Jr. Parra sold 6,480 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the sale, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas James Gunderson sold 18,157 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the completion of the transaction, the director now directly owns 19,257 shares of the company’s stock, valued at approximately $1,464,109.71. The disclosure for this sale can be found here. Insiders sold a total of 49,637 shares of company stock worth $3,751,673 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its stake in shares of Merit Medical Systems by 15.4% during the third quarter. William Blair Investment Management LLC now owns 3,895,695 shares of the medical instruments supplier’s stock worth $268,881,000 after purchasing an additional 520,423 shares in the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Merit Medical Systems by 1.0% in the first quarter. Conestoga Capital Advisors LLC now owns 2,174,483 shares of the medical instruments supplier’s stock valued at $164,717,000 after purchasing an additional 22,545 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Merit Medical Systems by 1.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,388,905 shares of the medical instruments supplier’s stock valued at $95,862,000 after purchasing an additional 16,488 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Merit Medical Systems by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock valued at $99,258,000 after purchasing an additional 41,065 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in Merit Medical Systems by 25.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,031,173 shares of the medical instruments supplier’s stock worth $71,172,000 after purchasing an additional 212,256 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.