Merit Medical Systems’ (MMSI) “Outperform” Rating Reiterated at Barrington Research

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “outperform” rating reaffirmed by equities researchers at Barrington Research in a report released on Friday,Benzinga reports. They presently have a $111.00 price objective on the medical instruments supplier’s stock. Barrington Research’s target price suggests a potential upside of 20.60% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Raymond James lifted their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Needham & Company LLC restated a “buy” rating and set a $116.00 price target on shares of Merit Medical Systems in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Wells Fargo & Company decreased their target price on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. began coverage on Merit Medical Systems in a report on Friday, March 28th. They set an “overweight” rating and a $120.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $114.33.

Merit Medical Systems Trading Up 0.5 %

Shares of Merit Medical Systems stock opened at $92.04 on Friday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $101.92 and its 200 day moving average price is $100.86. The firm has a market capitalization of $5.44 billion, a PE ratio of 45.12, a P/E/G ratio of 2.34 and a beta of 0.85. Merit Medical Systems has a twelve month low of $70.70 and a twelve month high of $111.45.

Insider Activity

In other Merit Medical Systems news, insider Brian G. Lloyd sold 25,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the transaction, the insider now owns 38,993 shares in the company, valued at $3,879,803.50. The trade was a 39.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen C. Evans sold 5,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the transaction, the director now directly owns 4,657 shares of the company’s stock, valued at $490,428.67. The trade was a 51.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Merit Medical Systems

Several hedge funds have recently added to or reduced their stakes in the company. NewSquare Capital LLC acquired a new position in shares of Merit Medical Systems during the fourth quarter worth $32,000. Versant Capital Management Inc increased its stake in Merit Medical Systems by 1,518.5% in the first quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 410 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in Merit Medical Systems in the 4th quarter valued at about $52,000. Federated Hermes Inc. increased 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 valued at $63,000 after purchasing an additional 381 shares during the period. Finally, Group One Trading LLC purchased a new position in Merit Medical Systems during the 4th quarter worth $77,000. Institutional investors and hedge funds 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.