Merit Medical Systems (NASDAQ:MMSI) Given “Buy” Rating at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $101.00 target price on the medical instruments supplier’s stock. Needham & Company LLC’s price objective indicates a potential upside of 48.03% from the stock’s previous close.

Several other research firms have also issued reports on MMSI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 28th. Canaccord Genuity Group upped their price target on shares of 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 reduced their price objective on shares of Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Robert W. Baird set a $108.00 target price on Merit Medical Systems in a research report on Tuesday, December 16th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.25.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $68.23 on Wednesday. The business’s fifty day moving average is $76.02 and its 200 day moving average is $81.80. Merit Medical Systems has a fifty-two week low of $66.34 and a fifty-two week high of $107.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.95 and a current ratio of 4.34. The company has a market capitalization of $4.05 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Tuesday, February 24th. The medical instruments supplier reported $1.04 EPS for the quarter, topping the consensus estimate of $0.96 by $0.08. The firm had revenue of $393.94 million for the quarter, compared to the consensus estimate of $390.77 million. Merit Medical Systems had a return on equity of 13.82% and a net margin of 8.48%.The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Sell-side analysts predict that Merit Medical Systems will post 3.37 earnings per share for the current year.

Institutional Investors Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL acquired a new stake in shares of Merit Medical Systems during the 3rd quarter valued at about $2,913,050,000. Assenagon Asset Management S.A. acquired a new position in Merit Medical Systems in the 3rd quarter valued at $1,644,000. Norges Bank purchased a new position in shares of Merit Medical Systems in the second quarter worth about $53,697,000. Fort Washington Investment Advisors Inc. OH lifted its stake in Merit Medical Systems by 69.7% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 301,718 shares of the medical instruments supplier’s stock worth $25,112,000 after purchasing an additional 123,912 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Merit Medical Systems by 7.6% during the third 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. 99.66% of the stock is owned by institutional investors and hedge funds.

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.