Barrington Research Boosts Merit Medical Systems (NASDAQ:MMSI) Price Target to $114.00

Merit Medical Systems (NASDAQ:MMSI) had its price target upped by Barrington Research from $100.00 to $114.00 in a report issued on Friday, Benzinga reports. Barrington Research currently has an outperform rating on the medical instruments supplier’s stock.

A number of other research firms have also recently weighed in on MMSI. Wells Fargo & Company raised their price target on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an equal weight rating in a report on Monday, September 16th. Needham & Company LLC restated a buy rating and issued a $105.00 price target on shares of Merit Medical Systems in a report on Monday, September 16th. Canaccord Genuity Group raised their price target on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a buy rating in a report on Tuesday, July 2nd. Baird R W upgraded shares of Merit Medical Systems to a strong-buy rating in a report on Friday, June 28th. Finally, Piper Sandler restated an overweight rating and issued a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $101.82.

Merit Medical Systems Trading Up 0.4 %

MMSI stock opened at $100.00 on Friday. The company has a market capitalization of $5.81 billion, a PE ratio of 57.47, a P/E/G ratio of 2.53 and a beta of 0.87. Merit Medical Systems has a 12 month low of $62.58 and a 12 month high of $101.60. The firm’s 50-day moving average is $92.01 and its 200 day moving average is $83.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The company had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. On average, research analysts anticipate that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Activity

In related news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the sale, the director now directly owns 32,391 shares in the company, valued at approximately $2,753,235. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of large investors have recently made changes to their positions in the company. William Blair Investment Management LLC boosted its holdings in shares of Merit Medical Systems by 0.3% in the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after acquiring an additional 10,512 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Merit Medical Systems by 3.5% in the second quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock valued at $193,419,000 after acquiring an additional 75,885 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after acquiring an additional 131,977 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock valued at $63,543,000 after acquiring an additional 22,077 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Merit Medical Systems by 147.2% in the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after acquiring an additional 377,851 shares during the period. 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.