Merit Medical Systems’ (MMSI) “Outperform” Rating Reiterated at Barrington Research

Barrington Research restated their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a research note published on Friday morning,Benzinga reports. They currently have a $111.00 price objective on the medical instruments supplier’s stock.

MMSI has been the subject of several other reports. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They set an “overweight” rating and a $120.00 price objective for the company. Raymond James lifted their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Canaccord Genuity Group reduced their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler restated an “overweight” rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and an average target price of $114.33.

Merit Medical Systems Trading Up 0.5 %

Shares of NASDAQ MMSI opened at $92.04 on Friday. Merit Medical Systems has a 1-year low of $70.70 and a 1-year high of $111.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The business’s 50 day moving average is $101.92 and its two-hundred day moving average is $100.88. The stock has a market capitalization of $5.44 billion, a P/E ratio of 45.12, a PEG ratio of 2.34 and a beta of 0.85.

Insider Activity

In related news, insider Brian G. Lloyd sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the sale, the insider now owns 38,993 shares of the company’s stock, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $98.81, for a total value of $1,230,283.31. Following the completion of the transaction, the chief financial officer now owns 24,201 shares in the company, valued at $2,391,300.81. This trade represents a 33.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,132 shares of company stock worth $11,139,521. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of institutional investors have recently modified their holdings of MMSI. NewSquare Capital LLC purchased a new stake in Merit Medical Systems during the fourth quarter valued at approximately $32,000. Versant Capital Management Inc increased its position in shares of Merit Medical Systems by 1,518.5% during the first quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier’s stock worth $46,000 after purchasing an additional 410 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter valued at $52,000. Federated Hermes Inc. lifted its holdings in shares of Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock valued at $63,000 after purchasing an additional 381 shares during the last quarter. Finally, Group One Trading LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter worth $77,000. 99.66% of the stock is currently owned by 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.