Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have received an average rating of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating 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.

Several equities research analysts recently issued reports on MMSI shares. Robert W. Baird set a $108.00 price target on Merit Medical Systems in a report on Tuesday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a research note on Friday, January 9th. Canaccord Genuity Group increased their target price on shares of Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Piper Sandler restated an “overweight” rating and set a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st.

Merit Medical Systems Trading Up 2.4%

NASDAQ:MMSI opened at $82.31 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.28 and a quick ratio of 2.86. Merit Medical Systems has a one year low of $78.12 and a one year high of $111.45. The company has a market cap of $4.88 billion, a PE ratio of 42.21, a PEG ratio of 2.39 and a beta of 0.62. The firm has a 50-day moving average of $86.35 and a 200-day moving average of $86.04.

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, equities research analysts expect that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chairman directly owned 1,029,955 shares of the company’s stock, valued at $89,925,371.05. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 60,000 shares of company stock valued at $5,189,900. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MMSI. Tudor Investment Corp ET AL purchased a new stake in shares of Merit Medical Systems during the 3rd quarter valued at $2,913,050,000. State Street Corp raised its position in 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 acquiring an additional 24,569 shares during the period. Geode Capital Management LLC raised its position in Merit Medical Systems by 2.8% in the second quarter. Geode Capital Management LLC now owns 1,437,397 shares of the medical instruments supplier’s stock worth $134,384,000 after acquiring an additional 39,620 shares during the period. Maverick Capital Ltd. boosted its stake in Merit Medical Systems by 8.4% in 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 during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Merit Medical Systems by 377.7% during the 3rd 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 during the period. 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.