Merit Medical Systems' (MMSI) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reissued their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI - Free Report) in a research note released on Thursday morning, Benzinga reports. They currently have a $114.00 target price on the medical instruments supplier's stock.

Several other analysts have also recently issued reports on MMSI. Needham & Company LLC reissued a "buy" rating and set a $109.00 price target on shares of Merit Medical Systems in a research report on Thursday. Robert W. Baird upped their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the stock an "outperform" rating in a research report on Thursday. Bank of America lifted their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Piper Sandler reissued an "overweight" rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Finally, StockNews.com raised Merit Medical Systems from a "hold" rating to a "buy" rating in a research report on Saturday, October 26th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.36.

Merit Medical Systems Trading Up 4.0 %

Shares of MMSI stock traded up $3.76 during trading on Thursday, hitting $98.66. 915,721 shares of the stock traded hands, compared to its average volume of 438,189. Merit Medical Systems has a 52-week low of $65.46 and a 52-week high of $101.60. The firm has a market capitalization of $5.73 billion, a P/E ratio of 57.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. The firm's fifty day moving average price is $96.36 and its 200-day moving average price is $87.63. 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 - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $339.85 million during the quarter, compared to analysts' expectations of $334.60 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, research analysts forecast that Merit Medical Systems will post 3.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems during the second quarter worth about $29,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Merit Medical Systems in the 1st quarter valued at approximately $44,000. USA Financial Formulas acquired a new position in shares of Merit Medical Systems in the third quarter valued at approximately $59,000. Headlands Technologies LLC acquired a new position in shares of Merit Medical Systems in the first quarter valued at approximately $50,000. Finally, GAMMA Investing LLC raised its stake in shares of Merit Medical Systems by 142.3% during the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier's stock worth $71,000 after purchasing an additional 488 shares during 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.