Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $115.00 at Barrington Research

Merit Medical Systems (NASDAQ:MMSI) had its target price lifted by investment analysts at Barrington Research from $114.00 to $115.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price objective would indicate a potential upside of 5.48% from the company’s current price.

MMSI has been the subject of a number of other reports. Piper Sandler increased their price target on Merit Medical Systems from $110.00 to $114.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Needham & Company LLC restated a “buy” rating and set a $109.00 price target on shares of Merit Medical Systems in a report on Tuesday, January 14th. Canaccord Genuity Group raised their price objective on shares of Merit Medical Systems from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Robert W. Baird boosted their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, nine 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 a consensus rating of “Moderate Buy” and a consensus price target of $109.60.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $109.03 on Wednesday. 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 capitalization of $6.35 billion, a P/E ratio of 53.45, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. Merit Medical Systems has a 52 week low of $70.70 and a 52 week high of $109.04. The stock has a fifty day moving average of $101.19 and a 200-day moving average of $96.80.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. During the same period in the prior year, the company earned $0.75 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Merit Medical Systems will post 3.36 earnings per share for the current fiscal year.

Insider Transactions at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 16,361 shares of the company’s stock, valued at $1,603,705.22. This trade represents a 64.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the transaction, the director now owns 32,391 shares in the company, valued at $3,289,306.05. The trade was a 27.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in Merit Medical Systems by 70.1% in the third quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after acquiring an additional 649,799 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Merit Medical Systems by 218.9% during the third quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier’s stock worth $44,029,000 after purchasing an additional 305,800 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Merit Medical Systems by 85.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after purchasing an additional 265,648 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in Merit Medical Systems in the 3rd quarter valued at $25,004,000. Finally, International Assets Investment Management LLC bought a new stake in Merit Medical Systems during the 3rd quarter valued at $21,156,000. 99.66% of the stock is owned by institutional investors.

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.