Merit Medical Systems (NASDAQ:MMSI) Trading Down 5.9% – Should You Sell?

Merit Medical Systems, Inc. (NASDAQ:MMSI)’s stock price 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 changed hands 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.

Analyst Upgrades and Downgrades

MMSI has been the topic of a number of recent research reports. Barrington Research reiterated an “outperform” rating and set a $106.00 price objective on shares of Merit Medical Systems in a research note on Friday, November 14th. Canaccord Genuity Group lifted their price target on Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Piper Sandler reaffirmed an “overweight” rating and set a $109.00 price objective (up previously from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Wells Fargo & Company reduced their target price on shares of Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Merit Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $105.88.

Merit Medical Systems Stock Performance

The company has a current ratio of 4.28, a quick ratio of 2.86 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.08 billion, a PE ratio of 43.91, a P/E/G ratio of 2.67 and a beta of 0.62. The firm’s 50-day simple moving average is $87.05 and its two-hundred day simple moving average is $86.66.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, topping the consensus estimate of $0.82 by $0.10. Merit Medical Systems had a net margin of 8.02% and a return on equity of 14.27%. The business had revenue of $384.16 million during the quarter, compared to the consensus estimate of $371.69 million. During the same period in the previous year, the firm posted $0.86 earnings per share. 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. As a group, research analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 60,000 shares of company stock valued at $5,189,900 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MMSI. AQR Capital Management LLC boosted its holdings in Merit Medical Systems by 7.3% in the first quarter. AQR Capital Management LLC now owns 16,361 shares of the medical instruments supplier’s stock valued at $1,730,000 after purchasing an additional 1,114 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Merit Medical Systems by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,967 shares of the medical instruments supplier’s stock valued at $3,908,000 after buying an additional 1,436 shares during the period. Goldman Sachs Group Inc. raised its position in Merit Medical Systems by 16.9% during the first quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier’s stock valued at $76,039,000 after acquiring an additional 103,878 shares in the last quarter. United Services Automobile Association acquired a new position in Merit Medical Systems in the first quarter valued at approximately $408,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Merit Medical Systems by 73.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 286,943 shares of the medical instruments supplier’s stock worth $30,333,000 after purchasing an additional 121,599 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

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.