Merit Medical Systems (NASDAQ:MMSI) Trading Down 5.9% – What’s Next?

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) dropped 5.9% during trading on Friday . The stock traded as low as $87.02 and last traded at $87.66. Approximately 192,101 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 661,115 shares. The stock had previously closed at $93.18.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MMSI. Robert W. Baird set a $108.00 target price on Merit Medical Systems in a report on Tuesday, December 16th. Needham & Company LLC restated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $109.00 price objective (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Canaccord Genuity Group increased their target price on Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.88.

Merit Medical Systems Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.86 and a current ratio of 4.28. The company has a market capitalization of $5.08 billion, a P/E ratio of 43.91, a P/E/G ratio of 2.67 and a beta of 0.62. The firm’s fifty day moving average is $87.05 and its 200 day moving average is $86.66.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share (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 during the quarter, compared to analyst estimates of $371.69 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s revenue for the quarter 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, analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 25,000 shares of the stock in a transaction 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 sale, the chairman owned 1,029,955 shares in the company, valued at $89,925,371.05. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 60,000 shares of company stock valued at $5,189,900. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several large investors have recently added to or reduced their stakes in MMSI. Ameritas Investment Partners Inc. increased its position in shares of Merit Medical Systems by 2.2% during the second quarter. Ameritas Investment Partners Inc. now owns 5,973 shares of the medical instruments supplier’s stock worth $558,000 after acquiring an additional 131 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 buying an additional 134 shares during the period. Norden Group LLC grew its position in shares of Merit Medical Systems by 5.7% during the 3rd quarter. Norden Group LLC now owns 2,536 shares of the medical instruments supplier’s stock worth $211,000 after buying an additional 137 shares in the last quarter. Bryn Mawr Trust Advisors LLC increased its stake in shares of Merit Medical Systems by 7.2% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 2,225 shares of the medical instruments supplier’s stock valued at $208,000 after buying an additional 149 shares during the period. Finally, SageView Advisory Group LLC raised its holdings in shares of Merit Medical Systems by 3.1% in the first quarter. SageView Advisory Group LLC now owns 5,065 shares of the medical instruments supplier’s stock valued at $535,000 after acquiring an additional 153 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

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.