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 published on Friday,Benzinga reports. The brokerage currently has a $106.00 target price on the medical instruments supplier’s stock.

A number of other equities analysts have also weighed in on the stock. Raymond James Financial reduced their target price on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Wells Fargo & Company reduced their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday. Piper Sandler restated an “overweight” rating and issued a $109.00 target price (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, October 31st. Finally, Robert W. Baird set a $103.00 price objective on shares of Merit Medical Systems in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of “Buy” and an average price target of $104.50.

Merit Medical Systems Trading Down 2.6%

NASDAQ MMSI opened at $85.09 on Friday. The firm’s fifty day simple moving average is $84.26 and its 200-day simple moving average is $88.88. The company has a market capitalization of $5.04 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. Merit Medical Systems has a 1-year low of $78.12 and a 1-year high of $111.45. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. The business had revenue of $384.16 million during the quarter, compared to analysts’ expectations of $371.69 million. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, sell-side analysts anticipate that Merit Medical Systems will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following the transaction, the director owned 12,809 shares of the company’s stock, valued at $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC acquired a new stake in Merit Medical Systems during the 3rd quarter valued at $574,000. Creative Planning lifted its stake in shares of Merit Medical Systems by 20.1% during the 3rd quarter. Creative Planning now owns 33,213 shares of the medical instruments supplier’s stock worth $2,764,000 after buying an additional 5,556 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Merit Medical Systems by 1.4% during the 3rd quarter. Raymond James Financial Inc. now owns 566,826 shares of the medical instruments supplier’s stock worth $47,177,000 after buying an additional 7,761 shares during the period. Freestone Grove Partners LP acquired a new position in Merit Medical Systems in the 3rd quarter valued at about $314,000. Finally, Deerfield Management Company L.P. acquired a new position in Merit Medical Systems in the 3rd quarter valued at about $3,483,000. 99.66% of the stock is owned by institutional investors and hedge funds.

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.