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

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 report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 11.65% from the stock’s current price.

Several other equities analysts have also recently weighed in on MMSI. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, October 31st. Piper Sandler restated an “overweight” rating and set a $109.00 target price (up previously from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Merit Medical Systems in a research note on Tuesday. Robert W. Baird set a $103.00 price target on shares of Merit Medical Systems in a research report on Friday, October 31st. Finally, Canaccord Genuity Group increased their price objective on shares of Merit Medical Systems from $103.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $104.50.

Merit Medical Systems Stock Performance

MMSI opened at $85.09 on Friday. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 2.62 and a beta of 0.64. The business’s 50-day moving average price is $84.26 and its two-hundred day moving average price is $88.84. Merit Medical Systems has a 1 year low of $78.12 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share (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 $384.16 million during the quarter, compared to the consensus estimate of $371.69 million. During the same period last year, the company earned $0.86 earnings per share. Merit Medical Systems’s quarterly 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. Equities analysts expect that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

Insider Activity at Merit Medical Systems

In other news, Director Lynne N. Ward sold 3,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the transaction, the director directly owned 12,809 shares in the company, valued at $1,134,365.04. The trade was a 18.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors have recently bought and sold shares of MMSI. Amundi lifted its holdings in Merit Medical Systems by 2.2% during the 1st quarter. Amundi now owns 132,780 shares of the medical instruments supplier’s stock valued at $13,804,000 after purchasing an additional 2,847 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Merit Medical Systems by 15.3% in the first quarter. Wellington Management Group LLP now owns 260,084 shares of the medical instruments supplier’s stock valued at $27,493,000 after purchasing an additional 34,448 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 purchasing an additional 200 shares during the period. Fred Alger Management LLC lifted its stake in shares of Merit Medical Systems by 22.9% during the 1st quarter. Fred Alger Management LLC now owns 154,707 shares of the medical instruments supplier’s stock worth $16,354,000 after buying an additional 28,793 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Merit Medical Systems by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,967 shares of the medical instruments supplier’s stock worth $3,908,000 after buying an additional 1,436 shares during 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.