Merit Medical Systems (NASDAQ:MMSI) Given Outperform Rating at Barrington Research

Barrington Research reiterated their outperform rating on shares of Merit Medical Systems (NASDAQ:MMSI - Free Report) in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a $98.00 price objective on the medical instruments supplier's stock.

MMSI has been the topic of several other research reports. Canaccord Genuity Group upgraded Merit Medical Systems from a hold rating to a buy rating and set a $100.00 price objective on the stock in a report on Thursday, December 21st. Needham & Company LLC restated a buy rating and set a $88.00 price target on shares of Merit Medical Systems in a report on Thursday, April 11th. StockNews.com downgraded Merit Medical Systems from a buy rating to a hold rating in a report on Friday. CL King initiated coverage on Merit Medical Systems in a report on Thursday, April 11th. They set a buy rating and a $88.00 price target on the stock. Finally, Piper Sandler upped their price target on Merit Medical Systems from $88.00 to $95.00 and gave the stock an overweight rating in a report on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Merit Medical Systems currently has an average rating of Moderate Buy and a consensus target price of $92.50.

Merit Medical Systems Trading Up 1.1 %

Shares of Merit Medical Systems stock traded up $0.79 during trading hours on Tuesday, hitting $72.75. The company's stock had a trading volume of 174,911 shares, compared to its average volume of 506,314. Merit Medical Systems has a twelve month low of $62.58 and a twelve month high of $85.62. The firm has a fifty day moving average of $75.53 and a 200-day moving average of $73.50. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 44.91, a P/E/G ratio of 2.02 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.95 and a current ratio of 5.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.04. The firm had revenue of $324.52 million for the quarter, compared to the consensus estimate of $320.66 million. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. Research analysts forecast that Merit Medical Systems will post 3.31 EPS for the current year.

Insider Activity at Merit Medical Systems

In other news, Director F. Ann Millner sold 20,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the director now directly owns 29,960 shares of the company's stock, valued at approximately $2,396,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director F. Ann Millner sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the completion of the transaction, the director now directly owns 29,960 shares of the company's stock, valued at approximately $2,396,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $76.03, for a total value of $1,380,476.71. Following the transaction, the director now directly owns 19,257 shares of the company's stock, valued at approximately $1,464,109.71. The disclosure for this sale can be found here. Insiders sold a total of 69,637 shares of company stock valued at $5,351,673 in the last three months. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in Merit Medical Systems in the fourth quarter valued at about $26,000. State of Wyoming bought a new position in Merit Medical Systems during the 2nd quarter valued at $28,000. Valued Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems during the 4th quarter valued at $29,000. Parallel Advisors LLC lifted its position in shares of Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier's stock valued at $30,000 after acquiring an additional 212 shares during the last quarter. Finally, Belpointe Asset Management LLC lifted its position in shares of Merit Medical Systems by 53.8% during the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier's stock valued at $37,000 after acquiring an additional 175 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Company Profile

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.