Merit Medical Systems (NASDAQ:MMSI) Receives Outperform Rating from Barrington Research

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

Other research analysts have also issued reports about the company. Oppenheimer lifted their target price on Merit Medical Systems from $82.00 to $87.00 and gave the stock an outperform rating in a report on Thursday, February 29th. Needham & Company LLC restated a buy rating and set a $88.00 target price on shares of Merit Medical Systems in a report on Thursday, April 11th. Canaccord Genuity Group upgraded shares of Merit Medical Systems from a hold rating to a buy rating and set a $100.00 price target for the company in a research note on Thursday, December 21st. Piper Sandler lifted their price objective on shares of Merit Medical Systems from $88.00 to $95.00 and gave the company an overweight rating in a research report on Friday, January 12th. Finally, CL King assumed coverage on shares of Merit Medical Systems in a report on Thursday, April 11th. They issued a buy rating and a $88.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $92.50.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI opened at $72.75 on Tuesday. The business has a fifty day moving average of $75.53 and a 200-day moving average of $73.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.95 and a current ratio of 5.45. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $85.62. The firm has a market cap of $4.22 billion, a PE ratio of 44.91, a price-to-earnings-growth ratio of 2.02 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data 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 firm 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 company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. On average, equities research analysts predict that Merit Medical Systems will post 3.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of the stock in a transaction dated 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 in the company, valued at $887,917.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director F. Ann Millner sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the director now owns 29,960 shares of the company’s stock, valued at $2,396,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 12,007 shares of the company’s stock, valued at $887,917.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,637 shares of company stock valued at $5,351,673. 3.70% of the stock is owned by company insiders.

Institutional Trading of Merit Medical Systems

Hedge funds have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in Merit Medical Systems in the fourth quarter valued at $26,000. State of Wyoming bought a new stake in Merit Medical Systems in the 2nd quarter valued at about $28,000. Valued Wealth Advisors LLC acquired a new position in Merit Medical Systems during the 4th quarter worth approximately $29,000. Parallel Advisors LLC grew its stake in Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 212 shares during the period. Finally, Belpointe Asset Management LLC grew its stake in Merit Medical Systems by 53.8% in the first quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 175 shares during the period. 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.