Brokerages Set Merit Medical Systems, Inc. (NASDAQ:MMSI) Target Price at $106.50

Merit Medical Systems, Inc. (NASDAQ:MMSI) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the firm, 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 12-month target price among brokerages that have issued a report on the stock in the last year is $106.50.

MMSI has been the subject of several analyst reports. Barrington Research boosted their price target on shares of Merit Medical Systems from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Merit Medical Systems in a research report on Wednesday, October 8th. Raymond James Financial lowered their target price on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Wells Fargo & Company cut their price target on Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $87.55 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 44.44, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. The stock’s 50-day moving average is $84.62 and its two-hundred day moving average is $89.09. Merit Medical Systems has a 1-year low of $78.12 and a 1-year high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data 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 business had revenue of $384.20 million during the quarter, compared to the consensus estimate of $371.69 million. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter 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. Analysts forecast that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In related news, Director Lynne N. Ward sold 3,000 shares of the business’s 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 completion of the sale, the director owned 12,809 shares in the company, valued at $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Merit Medical Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of Merit Medical Systems by 7.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 917,122 shares of the medical instruments supplier’s stock worth $76,332,000 after buying an additional 64,920 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Merit Medical Systems by 24.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,553 shares of the medical instruments supplier’s stock worth $2,044,000 after acquiring an additional 4,750 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Merit Medical Systems by 8.7% in the third quarter. PNC Financial Services Group Inc. now owns 14,029 shares of the medical instruments supplier’s stock valued at $1,168,000 after acquiring an additional 1,122 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Merit Medical Systems by 14.6% in the third quarter. Public Sector Pension Investment Board now owns 230,947 shares of the medical instruments supplier’s stock valued at $19,222,000 after acquiring an additional 29,454 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its stake in Merit Medical Systems by 39.9% in the third quarter. Wedbush Securities Inc. now owns 3,712 shares of the medical instruments supplier’s stock valued at $309,000 after acquiring an additional 1,059 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.