Merit Medical Systems (NASDAQ:MMSI) Given New $111.00 Price Target at Barrington Research

Merit Medical Systems (NASDAQ:MMSI) had its price target cut by Barrington Research from $115.00 to $111.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the medical instruments supplier’s stock.

A number of other brokerages have also issued reports on MMSI. Needham & Company LLC cut their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James boosted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 31st. Canaccord Genuity Group lowered their price target on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their price target on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Two equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.40.

Merit Medical Systems Stock Down 1.5 %

MMSI opened at $100.45 on Wednesday. Merit Medical Systems has a one year low of $70.70 and a one year high of $111.45. 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’s fifty day moving average is $102.79 and its 200-day moving average is $99.89. The company has a market capitalization of $5.85 billion, a PE ratio of 49.24, a P/E/G ratio of 2.34 and a beta of 0.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Merit Medical Systems by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier’s stock worth $643,058,000 after acquiring an additional 63,314 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Merit Medical Systems by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock worth $226,236,000 after acquiring an additional 38,780 shares in the last quarter. State Street Corp boosted its stake in shares of Merit Medical Systems by 0.7% during the 3rd quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier’s stock worth $220,559,000 after acquiring an additional 15,098 shares in the last quarter. FMR LLC boosted its stake in shares of Merit Medical Systems by 31.6% during the 4th quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier’s stock worth $200,833,000 after acquiring an additional 499,193 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Merit Medical Systems by 2.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,633,246 shares of the medical instruments supplier’s stock worth $157,968,000 after acquiring an additional 36,489 shares in the last quarter. Hedge funds and other 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.