Merit Medical Systems, Inc. (NASDAQ:MMSI) Given Average Rating of “Moderate Buy” by Analysts

Merit Medical Systems, Inc. (NASDAQ:MMSI) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $105.8750.

A number of equities analysts have recently commented on MMSI shares. Barrington Research restated an “outperform” rating and issued a $106.00 price objective on shares of Merit Medical Systems in a research report on Friday, November 14th. Piper Sandler reiterated an “overweight” rating and issued a $109.00 target price (up from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Canaccord Genuity Group raised their price target on shares of Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday. Finally, Robert W. Baird set a $108.00 price objective on Merit Medical Systems in a research report on Tuesday, December 16th.

Insider Activity

In other news, Chairman Fred P. Lampropoulos sold 10,000 shares of Merit Medical Systems stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total transaction of $880,400.00. Following the completion of the sale, the chairman owned 1,019,955 shares in the company, valued at approximately $89,796,838.20. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 60,000 shares of company stock worth $5,189,900. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL bought a new position in shares of Merit Medical Systems in the 3rd quarter worth $2,913,050,000. State Street Corp grew its position in Merit Medical Systems by 1.1% in the second quarter. State Street Corp now owns 2,218,432 shares of the medical instruments supplier’s stock worth $207,379,000 after acquiring an additional 24,569 shares in the last quarter. Geode Capital Management LLC increased its stake in Merit Medical Systems by 2.8% in the second quarter. Geode Capital Management LLC now owns 1,437,397 shares of the medical instruments supplier’s stock valued at $134,384,000 after acquiring an additional 39,620 shares during the last quarter. Maverick Capital Ltd. raised its position in Merit Medical Systems by 8.4% during the second quarter. Maverick Capital Ltd. now owns 1,379,408 shares of the medical instruments supplier’s stock valued at $128,947,000 after purchasing an additional 106,897 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Merit Medical Systems by 377.7% during the third quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock valued at $103,248,000 after purchasing an additional 980,823 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Trading Down 0.5%

Shares of MMSI stock opened at $88.14 on Friday. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 2.82 and a beta of 0.62. The company’s fifty day simple moving average is $86.23 and its two-hundred day simple moving average is $86.74. Merit Medical Systems has a 1 year low of $78.12 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.28 and a quick ratio of 2.86.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.10. Merit Medical Systems had a return on equity of 14.27% and a net margin of 8.02%.The company had revenue of $384.16 million during the quarter, compared to analysts’ expectations of $371.69 million. During the same period in the previous year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, analysts anticipate that Merit Medical Systems will post 3.37 earnings per share for the current year.

About Merit Medical Systems

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.