Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $92.80 Consensus Price Target from Brokerages

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $92.80.

Several equities research analysts have issued reports on MMSI shares. JPMorgan Chase & Co. cut their price target on Merit Medical Systems from $95.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Compass Point set a $107.00 price target on Merit Medical Systems in a report on Monday, April 20th. Robert W. Baird set a $83.00 price target on Merit Medical Systems in a report on Friday, May 1st. Citigroup reaffirmed an “outperform” rating on shares of Merit Medical Systems in a report on Monday, April 20th. Finally, Wells Fargo & Company cut their price target on Merit Medical Systems from $78.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, May 1st.

Insider Buying and Selling at Merit Medical Systems

In other news, Director Lynne N. Ward sold 5,000 shares of Merit Medical Systems stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $62.61, for a total transaction of $313,050.00. Following the completion of the sale, the director owned 7,809 shares of the company’s stock, valued at approximately $488,921.49. This trade represents a 39.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian G. Lloyd bought 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were purchased at an average cost of $62.62 per share, with a total value of $125,240.00. Following the acquisition, the insider directly owned 2,000 shares of the company’s stock, valued at approximately $125,240. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new position in shares of Merit Medical Systems in the third quarter worth $2,913,050,000. Wellington Management Group LLP increased its position in shares of Merit Medical Systems by 377.7% in the third quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock worth $103,248,000 after purchasing an additional 980,823 shares during the period. Norges Bank bought a new position in shares of Merit Medical Systems in the fourth quarter worth $75,957,000. Iron Triangle Partners LP bought a new position in shares of Merit Medical Systems in the fourth quarter worth $33,992,000. Finally, Champlain Investment Partners LLC bought a new position in shares of Merit Medical Systems in the fourth quarter worth $32,359,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Trading Up 1.2%

NASDAQ MMSI opened at $67.27 on Friday. The company has a market cap of $4.01 billion, a PE ratio of 29.12, a PEG ratio of 2.07 and a beta of 0.54. The company has a current ratio of 5.08, a quick ratio of 3.46 and a debt-to-equity ratio of 0.45. Merit Medical Systems has a 12 month low of $59.74 and a 12 month high of $96.74. The stock has a 50 day moving average of $65.39 and a 200-day moving average of $74.38.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.10. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The business had revenue of $381.88 million during the quarter, compared to the consensus estimate of $377.59 million. During the same quarter last year, the firm posted $0.86 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. On average, equities research analysts anticipate that Merit Medical Systems will post 3.62 EPS for the current fiscal 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.