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

Merit Medical Systems (NASDAQ:MMSI) had its price objective raised by Barrington Research from $98.00 to $100.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the medical instruments supplier’s stock.

Several other brokerages have also recently commented on MMSI. Raymond James raised their target price on Merit Medical Systems from $84.00 to $89.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. StockNews.com cut Merit Medical Systems from a buy rating to a hold rating in a research note on Wednesday, April 24th. Canaccord Genuity Group raised their price target on shares of Merit Medical Systems from $102.00 to $112.00 and gave the stock a buy rating in a report on Thursday, February 29th. Needham & Company LLC decreased their target price on shares of Merit Medical Systems from $88.00 to $85.00 and set a buy rating for the company in a research note on Wednesday. Finally, Oppenheimer increased their price objective on Merit Medical Systems from $82.00 to $87.00 and gave the stock an outperform rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $92.78.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $76.63 on Wednesday. The company has a current ratio of 5.45, a quick ratio of 3.95 and a debt-to-equity ratio of 0.68. Merit Medical Systems has a 1 year low of $62.58 and a 1 year high of $85.62. The company has a market cap of $4.45 billion, a PE ratio of 44.04, a PEG ratio of 2.07 and a beta of 0.91. The stock’s 50-day moving average price is $74.26 and its two-hundred day moving average price is $73.99.

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

Insider Buying and Selling at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 6,480 shares of the firm’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 completion of the sale, the chief financial officer now owns 12,007 shares of the company’s stock, valued at $887,917.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Raul Jr. Parra sold 6,480 shares of the company’s 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 transaction, the chief financial officer now owns 12,007 shares in the company, valued at approximately $887,917.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Wright sold 25,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the sale, the insider now directly owns 42,223 shares in the company, valued at approximately $3,195,436.64. The disclosure for this sale can be found here. Insiders sold a total of 49,637 shares of company stock valued at $3,751,673 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMSI. Valued Wealth Advisors LLC bought a new position in Merit Medical Systems in the fourth quarter valued at approximately $29,000. Parallel Advisors LLC grew its stake in shares of Merit Medical Systems by 114.6% during the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares during the period. Tompkins Financial Corp bought a new stake in Merit Medical Systems in the fourth quarter valued at about $38,000. Headlands Technologies LLC acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at approximately $41,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Merit Medical Systems during the third quarter valued at approximately $67,000. 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.