Barrington Research Reaffirms “Outperform” Rating for Merit Medical Systems (NASDAQ:MMSI)

Barrington Research reaffirmed their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a research report sent to investors on Friday, Benzinga reports. They currently have a $114.00 price target on the medical instruments supplier’s stock.

MMSI has been the topic of several other reports. Bank of America lifted their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company lifted their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Robert W. Baird initiated coverage on Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, Canaccord Genuity Group upped their target price on Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.82.

Merit Medical Systems Trading Up 1.3 %

NASDAQ:MMSI opened at $96.48 on Friday. The stock has a fifty day simple moving average of $95.61 and a 200 day simple moving average of $86.44. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 55.45, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. Merit Medical Systems has a 1-year low of $63.13 and a 1-year high of $101.60. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62.

Merit Medical Systems (NASDAQ:MMSI) last announced its 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. The company had revenue of $338.00 million during the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. Sell-side analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current year.

Hedge Funds Weigh In On Merit Medical Systems

A number of hedge funds have recently added to or reduced their stakes in MMSI. American Century Companies Inc. lifted its stake in Merit Medical Systems by 2.9% in the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after acquiring an additional 118 shares during the last quarter. Xponance Inc. boosted its holdings in Merit Medical Systems by 4.9% in the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after purchasing an additional 170 shares in the last quarter. Entropy Technologies LP increased its position in Merit Medical Systems by 6.5% during the first quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock worth $251,000 after buying an additional 203 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Merit Medical Systems by 5.9% during the third quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier’s stock valued at $394,000 after buying an additional 223 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Merit Medical Systems by 19.7% in the second quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier’s stock worth $123,000 after buying an additional 235 shares during the last quarter. Institutional investors and hedge funds 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.