Merit Medical Systems (NASDAQ:MMSI) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Merit Medical Systems, Inc. (NASDAQ:MMSI) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $86.62 and traded as high as $94.75. Merit Medical Systems shares last traded at $91.65, with a volume of 701,820 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MMSI. Piper Sandler reissued an “overweight” rating and issued a $109.00 target price (up from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price target 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 objective on shares of Merit Medical Systems in a research note on Friday, November 14th. Zacks Research downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Wells Fargo & Company decreased 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 research report on Friday, November 14th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $105.88.

Merit Medical Systems Stock Performance

The firm has a market capitalization of $5.43 billion, a P/E ratio of 47.00, a P/E/G ratio of 2.71 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 firm has a 50-day moving average price of $86.85 and a two-hundred day moving average price of $86.62.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. The firm had revenue of $384.16 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 13.0% on a year-over-year basis. During the same period 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. On average, analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Insider Activity at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $87.31, for a total transaction of $2,182,750.00. Following the transaction, the chairman directly owned 1,029,955 shares of the company’s stock, valued at approximately $89,925,371.05. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 60,000 shares of company stock worth $5,189,900 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MMSI. Maseco LLP bought a new stake in Merit Medical Systems during the 2nd quarter valued at $28,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 bought a new stake in shares of Merit Medical Systems in the third quarter valued at about $37,000. Bayforest Capital Ltd purchased a new stake in Merit Medical Systems in the first quarter worth about $41,000. Finally, Danske Bank A S bought a new position in Merit Medical Systems during the 3rd quarter worth about $42,000. 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.