Merit Medical Systems (NASDAQ:MMSI) Given New $111.00 Price Target at Barrington Research

Merit Medical Systems (NASDAQ:MMSI) had its target price decreased by Barrington Research from $115.00 to $111.00 in a report published on Wednesday,Benzinga reports. Barrington Research currently has an outperform rating on the medical instruments supplier’s stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC dropped their target price on Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their price objective on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Raymond James lifted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. Finally, Robert W. Baird lifted 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, October 31st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.40.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $100.45 on Wednesday. The stock’s 50-day moving average is $102.79 and its 200-day moving average is $99.89. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems has a 12 month low of $70.70 and a 12 month high of $111.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMSI. International Assets Investment Management LLC bought a new stake in Merit Medical Systems during the 3rd quarter valued at $21,156,000. Wealth Enhancement Advisory Services LLC bought a new stake in Merit Medical Systems during the 3rd quarter valued at $325,000. Congress Asset Management Co. raised its stake in Merit Medical Systems by 2.7% during the 3rd quarter. Congress Asset Management Co. now owns 589,976 shares of the medical instruments supplier’s stock valued at $58,307,000 after acquiring an additional 15,534 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Merit Medical Systems by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock valued at $226,236,000 after acquiring an additional 38,780 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Merit Medical Systems by 32.7% during the 3rd 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 in the last quarter. 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.