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

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat reports. Two research 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 brokerages that have updated their coverage on the stock in the last year is $105.8750.

A number of research firms have commented on MMSI. Needham & Company LLC restated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a research report on Friday, January 9th. Piper Sandler reaffirmed an “overweight” rating and set a $109.00 target price (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Barrington Research reissued an “outperform” rating and issued a $106.00 price target on shares of Merit Medical Systems in a report on Friday, November 14th. Canaccord Genuity Group raised their price objective on shares of Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Wells Fargo & Company dropped their target price on shares of Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, November 14th.

Insider Activity

In other 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 transaction of $2,182,750.00. Following the sale, the chairman directly owned 1,029,955 shares of the company’s stock, valued at $89,925,371.05. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 60,000 shares of company stock valued at $5,189,900. Insiders own 3.20% of the company’s stock.

Institutional Trading of Merit Medical Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Maseco LLP purchased a new position in shares of Merit Medical Systems in the fourth quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new stake in Merit Medical Systems during the 3rd quarter valued at $37,000. Danske Bank A S purchased a new stake in shares of Merit Medical Systems in the third quarter valued at $42,000. Quarry LP boosted its position in shares of Merit Medical Systems by 185.9% in the third quarter. Quarry LP now owns 526 shares of the medical instruments supplier’s stock worth $44,000 after buying an additional 342 shares during the period. Finally, First Horizon Corp purchased a new position in shares of Merit Medical Systems during the third quarter valued at $78,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Down 2.1%

MMSI opened at $81.66 on Tuesday. The stock’s 50 day moving average price is $85.95 and its 200 day moving average price is $85.79. 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 stock has a market cap of $4.84 billion, a P/E ratio of 41.88, a P/E/G ratio of 2.22 and a beta of 0.62. Merit Medical Systems has a 12 month low of $78.12 and a 12 month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly 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 company had revenue of $384.16 million during the quarter, compared to analysts’ expectations of $371.69 million. Merit Medical Systems had a return on equity of 14.27% and a net margin of 8.02%.The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, research analysts predict that Merit Medical Systems will post 3.37 earnings per share for the current 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.