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

Merit Medical Systems, Inc. (NASDAQ:MMSI) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $105.8750.

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their target price 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. Zacks Research cut Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 target price on shares of Merit Medical Systems in a research report on Friday, October 31st. Robert W. Baird set a $108.00 target price on shares of Merit Medical Systems in a research note on Tuesday, December 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $87.40 on Friday. Merit Medical Systems has a 1 year low of $78.12 and a 1 year high of $111.45. The company has a fifty day simple moving average of $85.77 and a 200 day simple moving average of $86.95. The company has a current ratio of 4.28, a quick ratio of 2.86 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.18 billion, a P/E ratio of 44.82, a P/E/G ratio of 2.79 and a beta of 0.61.

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

Insiders Place Their Bets

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the business’s 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 transaction, the chairman directly owned 1,019,955 shares in the company, valued at $89,796,838.20. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 60,000 shares of company stock worth $5,189,900 over the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Trading of Merit Medical Systems

Institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new position in shares of Merit Medical Systems in the third quarter valued at $2,913,050,000. Maverick Capital Ltd. bought a new stake in Merit Medical Systems in the 1st quarter valued at $134,517,000. Wellington Management Group LLP increased its holdings in Merit Medical Systems by 377.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock valued at $103,248,000 after buying an additional 980,823 shares during the period. Norges Bank acquired a new stake in shares of Merit Medical Systems during the 2nd quarter valued at about $53,697,000. Finally, Thrivent Financial for Lutherans increased its stake in Merit Medical Systems by 250.5% in the third quarter. Thrivent Financial for Lutherans now owns 750,066 shares of the medical instruments supplier’s stock valued at $62,428,000 after acquiring an additional 536,072 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.