Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $105.88 Consensus Target Price from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $105.8750.

MMSI has been the topic of several analyst reports. Robert W. Baird set a $108.00 target price on Merit Medical Systems in a research report on Tuesday, December 16th. Wells Fargo & Company dropped their price objective 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. Canaccord Genuity Group lifted 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. Needham & Company LLC restated a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a research report on Friday, January 9th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a report on Friday, November 14th.

Insider Buying and Selling

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 10,000 shares of Merit Medical Systems stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total transaction of $880,400.00. Following the sale, the chairman owned 1,019,955 shares of the company’s stock, valued at $89,796,838.20. The trade was a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 60,000 shares of company stock valued at $5,189,900. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Tudor Investment Corp ET AL acquired a new stake in Merit Medical Systems in the third quarter worth about $2,913,050,000. Wellington Management Group LLP raised 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 worth $103,248,000 after buying an additional 980,823 shares in the last quarter. Norges Bank bought a new stake in shares of Merit Medical Systems during the 2nd quarter worth about $53,697,000. Thrivent Financial for Lutherans lifted its stake in shares of Merit Medical Systems by 250.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 750,066 shares of the medical instruments supplier’s stock worth $62,428,000 after acquiring an additional 536,072 shares during the period. Finally, Greenhouse Funds LLLP boosted its holdings in shares of Merit Medical Systems by 48.3% in the third quarter. Greenhouse Funds LLLP now owns 871,927 shares of the medical instruments supplier’s stock valued at $72,570,000 after acquiring an additional 284,015 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Price Performance

MMSI opened at $83.39 on Tuesday. The company has a quick ratio of 2.86, a current ratio of 4.28 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $86.02 and its 200 day moving average price is $85.92. 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 cap of $4.94 billion, a price-to-earnings ratio of 42.76, a price-to-earnings-growth ratio of 2.27 and a beta of 0.62.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate of $0.82 by $0.10. The company had revenue of $384.16 million during the quarter, compared to analyst estimates of $371.69 million. Merit Medical Systems had a return on equity of 14.27% and a net margin of 8.02%.The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, sell-side analysts expect that Merit Medical Systems will post 3.37 earnings per share for the current year.

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.