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

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $104.50.

Several research firms recently commented on MMSI. Weiss Ratings reiterated a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday. Canaccord Genuity Group reduced their price target 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. Zacks Research downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Needham & Company LLC restated a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a report on Friday, October 31st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $106.00 target price on shares of Merit Medical Systems in a research report on Friday, November 14th.

Insider Buying and Selling

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the company’s 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 completion of the sale, the chairman owned 1,019,955 shares in the company, valued at approximately $89,796,838.20. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 60,000 shares of company stock worth $5,189,900 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Merit Medical Systems

Institutional investors have recently made changes to their positions in the business. Maseco LLP bought a new position in Merit Medical Systems in the second quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in Merit Medical Systems by 55.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after purchasing an additional 134 shares during the period. Salomon & Ludwin LLC purchased a new position in Merit Medical Systems during the third quarter valued at $37,000. Northwestern Mutual Wealth Management Co. grew its holdings in Merit Medical Systems by 119.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 200 shares during the period. Finally, Bayforest Capital Ltd purchased a new stake in Merit Medical Systems in the first quarter worth about $41,000. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $83.43 on Monday. The firm has a market cap of $4.95 billion, a P/E ratio of 42.78, a PEG ratio of 2.69 and a beta of 0.61. Merit Medical Systems has a twelve month low of $78.12 and a twelve month high of $111.45. 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 has a 50 day moving average of $84.45 and a 200 day moving average of $87.81.

Merit Medical Systems (NASDAQ:MMSI) last issued 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. Merit Medical Systems had a return on equity of 14.27% and a net margin of 8.02%.The business had revenue of $384.16 million for the quarter, compared to the consensus estimate of $371.69 million. During the same period last year, the business posted $0.86 EPS. The company’s 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. As a group, research analysts expect that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

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.