Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $104.50.

A number of research analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $109.00 price objective (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Zacks Research lowered Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 price target on shares of Merit Medical Systems in a research report on Friday, October 31st. Wells Fargo & Company decreased their price target on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, November 14th. Finally, Barrington Research reissued an “outperform” rating and issued a $106.00 price objective on shares of Merit Medical Systems in a research note on Friday, November 14th.

Insider Activity at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 25,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $87.31, for a total value of $2,182,750.00. Following the completion of the sale, the chairman directly owned 1,029,955 shares in the company, valued at approximately $89,925,371.05. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 60,000 shares of company stock valued at $5,189,900 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Maseco LLP acquired a new stake in shares of Merit Medical Systems in the second quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB boosted its stake in Merit Medical Systems by 55.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 134 shares during the period. Salomon & Ludwin LLC acquired a new stake in Merit Medical Systems in the 3rd quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. grew its holdings in Merit Medical Systems by 119.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in Merit Medical Systems in the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Down 0.9%

Shares of Merit Medical Systems stock opened at $86.59 on Monday. The stock has a 50-day simple moving average of $84.21 and a 200-day simple moving average of $88.15. Merit Medical Systems has a 52-week low of $78.12 and a 52-week high of $111.45. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 43.95, a P/E/G ratio of 2.62 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data 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. The firm had revenue of $384.16 million for the quarter, compared to analyst estimates of $371.69 million. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. On average, 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 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.