Merit Medical Systems (NASDAQ:MMSI) Price Target Cut to $95.00 by Analysts at Wells Fargo & Company

Merit Medical Systems (NASDAQ:MMSI) had its target price lowered by equities research analysts at Wells Fargo & Company from $103.00 to $95.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 12.84% from the company’s previous close.

A number of other research firms have also recently commented on MMSI. Needham & Company LLC reiterated a “buy” rating and set a $108.00 target price on shares of Merit Medical Systems in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a report on Tuesday. Raymond James Financial reduced their target price on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Zacks Research raised Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Robert W. Baird set a $103.00 price objective on Merit Medical Systems in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $105.88.

Merit Medical Systems Trading Down 3.7%

NASDAQ:MMSI traded down $3.21 during mid-day trading on Friday, hitting $84.19. 554,116 shares of the company’s stock were exchanged, compared to its average volume of 645,116. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. Merit Medical Systems has a fifty-two week low of $78.12 and a fifty-two week high of $111.45. The company has a 50 day simple moving average of $84.42 and a 200-day simple moving average of $88.96. The firm has a market capitalization of $4.99 billion, a P/E ratio of 42.74, a PEG ratio of 2.62 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The firm had revenue of $384.16 million for the quarter, compared to analyst estimates of $371.69 million. During the same quarter in the previous year, the company posted $0.86 EPS. The business’s revenue was up 13.0% on a year-over-year basis. 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 earnings per share for the current year.

Insiders Place Their Bets

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of Merit Medical Systems stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following the sale, the director directly owned 12,809 shares of the company’s stock, valued at approximately $1,134,365.04. The trade was a 18.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

Several hedge funds have recently bought and sold shares of MMSI. iSAM Funds UK Ltd purchased a new stake in shares of Merit Medical Systems in the 3rd quarter worth approximately $142,000. Wellington Management Group LLP grew its position in 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 purchasing an additional 980,823 shares during the last quarter. Perbak Capital Partners LLP raised its holdings in Merit Medical Systems by 80.0% in the third quarter. Perbak Capital Partners LLP now owns 11,032 shares of the medical instruments supplier’s stock worth $918,000 after buying an additional 4,902 shares during the last quarter. FORA Capital LLC lifted its stake in shares of Merit Medical Systems by 26.0% in the third quarter. FORA Capital LLC now owns 4,380 shares of the medical instruments supplier’s stock worth $365,000 after buying an additional 904 shares in the last quarter. Finally, Vise Technologies Inc. increased its position in shares of Merit Medical Systems by 34.3% during the third quarter. Vise Technologies Inc. now owns 4,131 shares of the medical instruments supplier’s stock valued at $344,000 after acquiring an additional 1,055 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

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.