Barrington Research Reiterates Outperform Rating for Merit Medical Systems (NASDAQ:MMSI)

Merit Medical Systems (NASDAQ:MMSI - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Barrington Research in a report issued on Friday,Benzinga reports. They currently have a $111.00 target price on the medical instruments supplier's stock. Barrington Research's target price points to a potential upside of 22.96% from the stock's current price.

MMSI has been the topic of several other reports. Piper Sandler reiterated an "overweight" rating and issued a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. JPMorgan Chase & Co. started coverage on Merit Medical Systems in a research report on Friday, March 28th. They set an "overweight" rating and a $120.00 target price on the stock. Canaccord Genuity Group reduced their price target on Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Raymond James increased their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, December 31st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems has a consensus rating of "Moderate Buy" and an average price target of $114.33.

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Merit Medical Systems Stock Performance

NASDAQ:MMSI traded down $1.69 on Friday, hitting $90.27. The stock had a trading volume of 139,375 shares, compared to its average volume of 480,794. Merit Medical Systems has a 52-week low of $70.70 and a 52-week high of $111.45. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 44.25, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The business's 50-day simple moving average is $101.26 and its two-hundred day simple moving average is $100.79.

Insider Activity at Merit Medical Systems

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the transaction, the chief executive officer now directly owns 1,086,028 shares of the company's stock, valued at approximately $112,794,868.08. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total transaction of $526,550.00. Following the transaction, the director now owns 4,657 shares of the company's stock, valued at $490,428.67. This trade represents a 51.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,132 shares of company stock valued at $11,139,521. Corporate insiders own 3.70% of the company's stock.

Institutional Trading of Merit Medical Systems

Hedge funds have recently made changes to their positions in the business. NewSquare Capital LLC bought a new stake in Merit Medical Systems during the fourth quarter worth approximately $32,000. Versant Capital Management Inc boosted its position in shares of Merit Medical Systems by 1,518.5% during the first quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock valued at $46,000 after buying an additional 410 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Merit Medical Systems during the fourth quarter valued at approximately $52,000. Federated Hermes Inc. raised its holdings in shares of Merit Medical Systems by 139.1% in the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after buying an additional 381 shares during the period. Finally, Group One Trading LLC bought a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $77,000. 99.66% of the stock is currently owned by hedge funds and other 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.