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

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given an average rating of “Moderate Buy” by the ten brokerages that are covering the stock, MarketBeat.com 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 objective among brokers that have updated their coverage on the stock in the last year is $105.8750.

Several brokerages have weighed in on MMSI. Barrington Research restated an “outperform” rating and set a $106.00 price objective on shares of Merit Medical Systems in a research note on Friday, November 14th. Wells Fargo & Company dropped their price target 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. Zacks Research cut shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 22nd. Finally, Robert W. Baird set a $108.00 price objective on shares of Merit Medical Systems in a report on Tuesday, December 16th.

Merit Medical Systems Stock Performance

MMSI opened at $87.39 on Friday. Merit Medical Systems has a fifty-two week low of $78.12 and a fifty-two week high of $111.45. The firm has a market capitalization of $5.18 billion, a PE ratio of 44.82, a P/E/G ratio of 2.79 and a beta of 0.62. 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 company’s 50-day moving average is $85.88 and its 200 day moving average is $86.79.

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, beating analysts’ consensus estimates of $0.82 by $0.10. The business had revenue of $384.16 million during the quarter, compared to the consensus estimate 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 quarterly 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. As a group, research analysts predict that Merit Medical Systems will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 10,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $88.04, for a total value of $880,400.00. Following the sale, the chairman directly owned 1,019,955 shares of the company’s stock, valued at approximately $89,796,838.20. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 60,000 shares of company stock worth $5,189,900 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Merit Medical Systems

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