Merit Medical Systems (NASDAQ:MMSI) Earns “Outperform” Rating from Barrington Research

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a research note issued on Thursday, Benzinga reports. They currently have a $114.00 price objective on the medical instruments supplier’s stock. Barrington Research’s price target suggests a potential upside of 15.38% from the stock’s previous close. Barrington Research also issued estimates for Merit Medical Systems’ Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.35 EPS and Q1 2025 earnings at $0.88 EPS.

A number of other research analysts also recently issued reports on MMSI. Robert W. Baird increased their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday. Wells Fargo & Company raised their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Finally, Bank of America raised their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.36.

Merit Medical Systems Trading Up 0.1 %

NASDAQ MMSI opened at $98.80 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. The firm has a market cap of $5.75 billion, a P/E ratio of 48.43, a P/E/G ratio of 2.39 and a beta of 0.87. Merit Medical Systems has a one year low of $65.46 and a one year high of $101.60. The stock’s 50-day moving average is $96.60 and its 200-day moving average is $87.89.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a return on equity of 15.86% and a net margin of 9.05%. Merit Medical Systems’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Sell-side analysts anticipate that Merit Medical Systems will post 3.3 earnings per share for the current fiscal year.

Institutional Trading of Merit Medical Systems

A number of hedge funds have recently made changes to their positions in MMSI. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the second quarter valued at approximately $29,000. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems during the 1st quarter worth approximately $44,000. Headlands Technologies LLC acquired a new stake in Merit Medical Systems during the 1st quarter worth approximately $50,000. USA Financial Formulas acquired a new stake in Merit Medical Systems during the 3rd quarter worth approximately $59,000. Finally, EntryPoint Capital LLC lifted its holdings in Merit Medical Systems by 2,666.7% during the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 880 shares during the last quarter. 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.