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

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $104.50.

MMSI has been the subject of several research reports. Robert W. Baird set a $103.00 target price on Merit Medical Systems in a research report on Friday, October 31st. Canaccord Genuity Group dropped their price objective on shares of Merit Medical Systems from $104.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Barrington Research reiterated an “outperform” rating and set a $106.00 target price on shares of Merit Medical Systems in a research report on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research note on Monday, November 24th. Finally, 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.

Merit Medical Systems Stock Down 0.9%

Shares of MMSI opened at $86.59 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. The company 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 capitalization of $5.13 billion, a P/E ratio of 43.95, a P/E/G ratio of 2.62 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.10. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The firm had revenue of $384.16 million for the quarter, compared to analyst estimates of $371.69 million. During the same period in the previous year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. 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 year.

Insider Activity at Merit Medical Systems

In related 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 60,000 shares of company stock worth $5,189,900. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Evergreen Capital Management LLC increased its position in Merit Medical Systems by 2.4% during the 1st quarter. Evergreen Capital Management LLC now owns 4,616 shares of the medical instruments supplier’s stock worth $488,000 after buying an additional 108 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Merit Medical Systems by 2.2% in the second quarter. Ameritas Investment Partners Inc. now owns 5,973 shares of the medical instruments supplier’s stock valued at $558,000 after acquiring an additional 131 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Merit Medical Systems by 55.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 134 shares in the last quarter. Norden Group LLC increased its position in Merit Medical Systems by 5.7% during the third quarter. Norden Group LLC now owns 2,536 shares of the medical instruments supplier’s stock worth $211,000 after acquiring an additional 137 shares during the period. Finally, US Bancorp DE raised its stake in Merit Medical Systems by 3.8% in the 1st quarter. US Bancorp DE now owns 3,936 shares of the medical instruments supplier’s stock worth $416,000 after purchasing an additional 145 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

About Merit Medical Systems

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.