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

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

A number of other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Merit Medical Systems from $102.00 to $112.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Raymond James lifted their target price on shares of Merit Medical Systems from $84.00 to $89.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Piper Sandler increased their price target on Merit Medical Systems from $88.00 to $95.00 and gave the stock an overweight rating in a research report on Friday, January 12th. CL King began coverage on Merit Medical Systems in a research report on Thursday, April 11th. They issued a buy rating and a $88.00 price objective for the company. Finally, Canaccord Genuity Group upgraded Merit Medical Systems from a hold rating to a buy rating and set a $100.00 target price on the stock in a report on Thursday, December 21st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems has an average rating of Moderate Buy and a consensus price target of $92.50.

Merit Medical Systems Stock Down 0.7 %

Merit Medical Systems stock opened at $70.99 on Tuesday. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 43.82, a P/E/G ratio of 1.99 and a beta of 0.89. The firm has a fifty day moving average price of $75.24 and a two-hundred day moving average price of $73.47. Merit Medical Systems has a fifty-two week low of $62.58 and a fifty-two week high of $85.62. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.45 and a quick ratio of 3.95.

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

Insider Transactions at Merit Medical Systems

In other news, Director F. Ann Millner sold 20,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the transaction, the director now directly owns 29,960 shares of the company’s stock, valued at approximately $2,396,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director F. Ann Millner sold 20,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the completion of the sale, the director now directly owns 29,960 shares in the company, valued at approximately $2,396,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas James Gunderson sold 18,157 shares of the stock in a transaction on 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 transaction, the director now owns 19,257 shares in the company, valued at $1,464,109.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,637 shares of company stock worth $5,351,673. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in Merit Medical Systems by 30.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,999 shares of the medical instruments supplier’s stock worth $5,378,000 after acquiring an additional 16,608 shares during the last quarter. AlphaMark Advisors LLC bought a new position in shares of Merit Medical Systems in the first quarter worth $304,000. Congress Wealth Management LLC DE bought a new stake in shares of Merit Medical Systems during the 1st quarter valued at $5,502,000. Diversified Trust Co lifted its holdings in Merit Medical Systems by 5.4% during the 1st quarter. Diversified Trust Co now owns 11,293 shares of the medical instruments supplier’s stock worth $855,000 after purchasing an additional 577 shares in the last quarter. Finally, Guidance Capital Inc. bought a new position in Merit Medical Systems in the 1st quarter worth about $403,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

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.