Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $106.50 Consensus Price Target from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given a consensus recommendation of “Buy” by the ten brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $106.50.

A number of research firms have recently commented on MMSI. Raymond James Financial cut 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. Needham & Company LLC reissued a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a research report on Friday, October 31st. Piper Sandler reissued an “overweight” rating and set a $109.00 price objective (up from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Wells Fargo & Company decreased their target price on shares of Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Finally, Robert W. Baird set a $103.00 target price on shares of Merit Medical Systems in a research note on Friday, October 31st.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction 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 in the company, valued at approximately $1,134,365.04. This trade represents a 18.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MMSI. Dimensional Fund Advisors LP boosted its position in shares of Merit Medical Systems by 6.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,177,862 shares of the medical instruments supplier’s stock valued at $98,021,000 after buying an additional 68,711 shares during the last quarter. Level Four Advisory Services LLC raised its position in Merit Medical Systems by 12.1% in the 3rd quarter. Level Four Advisory Services LLC now owns 20,018 shares of the medical instruments supplier’s stock worth $1,666,000 after buying an additional 2,153 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Merit Medical Systems by 22.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 42,222 shares of the medical instruments supplier’s stock valued at $3,514,000 after acquiring an additional 7,753 shares during the period. CI Investments Inc. boosted its holdings in shares of Merit Medical Systems by 18.5% during the 3rd quarter. CI Investments Inc. now owns 30,325 shares of the medical instruments supplier’s stock valued at $2,524,000 after acquiring an additional 4,737 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Merit Medical Systems by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 221,609 shares of the medical instruments supplier’s stock valued at $18,445,000 after acquiring an additional 6,164 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $88.12 on Thursday. 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 $84.51 and a two-hundred day simple moving average of $88.97. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 44.73, a P/E/G ratio of 2.62 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, topping 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 $384.20 million for the quarter, compared to analysts’ expectations of $371.69 million. During the same period in the previous year, the firm posted $0.86 EPS. The business’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. Analysts expect that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

Merit Medical Systems Company Profile

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.