Analysts Set Merit Medical Systems, Inc. (NASDAQ:MMSI) PT at $105.88

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the company, Marketbeat 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 1 year price target among brokerages that have covered the stock in the last year is $105.8750.

A number of research firms have issued reports on MMSI. Canaccord Genuity Group increased their price objective on Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research note on Monday, December 22nd. Robert W. Baird set a $108.00 target price on shares of Merit Medical Systems in a research note on Tuesday, December 16th. Finally, Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $87.39 on Friday. The company has a 50-day simple moving average of $85.88 and a two-hundred day simple moving average of $86.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.28 and a quick ratio of 2.86. The firm has a market capitalization of $5.18 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.62. Merit Medical Systems has a one year low of $78.12 and a one year high of $111.45.

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 the consensus estimate 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 return on equity of 14.27% and a net margin of 8.02%.The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. On average, analysts anticipate that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 25,000 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $87.31, for a total value of $2,182,750.00. Following the sale, the chairman directly owned 1,029,955 shares of the company’s stock, valued at approximately $89,925,371.05. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 60,000 shares of company stock worth $5,189,900 in the last three months. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Merit Medical Systems

Large investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL purchased a new stake in Merit Medical Systems during the 3rd quarter valued at about $2,913,050,000. State Street Corp lifted its stake in shares of 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 buying an additional 24,569 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Merit Medical Systems by 2.8% during 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 buying an additional 39,620 shares during the last quarter. Maverick Capital Ltd. increased 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 acquiring an additional 106,897 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of 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 acquiring 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 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.