Wells Fargo & Company Has Lowered Expectations for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI) had its target price reduced by research analysts at Wells Fargo & Company from $103.00 to $95.00 in a 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 suggests a potential upside of 12.84% from the stock’s current price.

MMSI has been the topic of a number of other reports. Raymond James Financial reduced their price target on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Robert W. Baird set a $103.00 price target on Merit Medical Systems in a report on Friday, October 31st. Zacks Research raised Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Canaccord Genuity Group lifted their price target on Merit Medical Systems from $103.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of “Buy” and a consensus target price of $105.88.

Merit Medical Systems Stock Performance

NASDAQ:MMSI traded down $3.21 during trading hours on Friday, hitting $84.19. 554,116 shares of the company traded hands, 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 twelve month low of $78.12 and a twelve month high of $111.45. The firm has a 50-day moving average of $84.42 and a 200 day moving average of $88.96. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 42.74, a P/E/G ratio of 2.62 and a beta of 0.64.

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, beating analysts’ consensus estimates of $0.82 by $0.10. The business had revenue of $384.16 million during the quarter, compared to analyst estimates of $371.69 million. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. On average, analysts forecast that Merit Medical Systems will post 3.37 EPS for the current year.

Insider Activity

In related 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 completion of the sale, the director directly owned 12,809 shares of the company’s stock, valued at approximately $1,134,365.04. This trade represents a 18.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Maseco LLP bought a new stake in shares of Merit Medical Systems in the second quarter valued at about $28,000. IFP Advisors Inc boosted its stake in Merit Medical Systems by 1,435.0% in the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock valued at $32,000 after buying an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Merit Medical Systems by 119.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Merit Medical Systems by 55.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 134 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Merit Medical Systems in the first quarter worth about $41,000. 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.