Barrington Research Cuts Merit Medical Systems (NASDAQ:MMSI) Price Target to $111.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective decreased by research analysts at Barrington Research from $115.00 to $111.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price target suggests a potential upside of 10.50% from the company’s previous close.

Several other equities analysts also recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Robert W. Baird lifted their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Raymond James upped their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 31st. Needham & Company LLC lowered their price target on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company cut their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $108.40.

Merit Medical Systems Stock Down 1.5 %

Shares of MMSI traded down $1.58 during trading hours on Wednesday, hitting $100.45. 998,791 shares of the company were exchanged, compared to its average volume of 529,708. The firm’s 50 day moving average is $102.72 and its 200-day moving average is $99.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems has a 52 week low of $70.70 and a 52 week high of $111.45. The company has a market cap of $5.85 billion, a PE ratio of 49.24, a PEG ratio of 2.34 and a beta of 0.87.

Institutional Trading of Merit Medical Systems

Institutional investors have recently modified their holdings of the company. NewSquare Capital LLC bought a new position in Merit Medical Systems in the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Merit Medical Systems in the 4th quarter valued at $52,000. Federated Hermes Inc. lifted its holdings in shares of Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after acquiring an additional 381 shares during the period. Group One Trading LLC acquired a new stake in shares of Merit Medical Systems during the 4th quarter valued at about $77,000. Finally, Farther Finance Advisors LLC increased its stake in Merit Medical Systems by 32.7% in the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.