Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $105.88 Consensus PT from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have received an average rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $105.8750.

MMSI has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research note on Monday, December 29th. Zacks Research lowered Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Barrington Research reiterated an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a research report on Friday, November 14th. Finally, Piper Sandler reissued an “overweight” rating and set a $109.00 price objective (up previously from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st.

Insider Buying and Selling at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $88.04, for a total value of $880,400.00. Following the completion of the transaction, the chairman owned 1,019,955 shares in the company, valued at $89,796,838.20. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 60,000 shares of company stock valued at $5,189,900 over the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new stake in Merit Medical Systems in the third quarter worth about $2,913,050,000. State Street Corp raised its position in shares of Merit Medical Systems by 1.1% in the 2nd 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 lifted its stake in shares of Merit Medical Systems by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,437,397 shares of the medical instruments supplier’s stock valued at $134,384,000 after purchasing an additional 39,620 shares during the period. Maverick Capital Ltd. boosted its position in shares of 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 grew its stake in Merit Medical Systems by 377.7% in the third quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock worth $103,248,000 after purchasing an additional 980,823 shares during the period. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Up 1.1%

Shares of NASDAQ MMSI opened at $82.54 on Tuesday. Merit Medical Systems has a 52-week low of $78.12 and a 52-week high of $111.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.86 and a current ratio of 4.28. The business has a fifty day moving average of $85.88 and a two-hundred day moving average of $85.63. The stock has a market cap of $4.89 billion, a PE ratio of 42.33, a PEG ratio of 2.22 and a beta of 0.62.

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

Merit Medical Systems Company Profile

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.