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

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $101.00 price objective on the medical instruments supplier’s stock. Needham & Company LLC’s price target points to a potential upside of 16.32% from the stock’s previous close.

A number of other brokerages also recently commented on MMSI. Canaccord Genuity Group increased their price target on shares of Merit Medical Systems from $85.00 to $94.00 and gave the company a “buy” rating in a report on Friday, July 31st. Raymond James Financial reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. Zacks Research raised shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Barrington Research set a $114.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. Finally, Bank of America increased their price target on shares of Merit Medical Systems from $92.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Trading Down 0.2%

Shares of NASDAQ:MMSI traded down $0.17 during trading on Tuesday, reaching $86.83. The company’s stock had a trading volume of 58,793 shares, compared to its average volume of 799,409. The company has a current ratio of 4.20, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44. Merit Medical Systems has a 12 month low of $59.74 and a 12 month high of $94.75. The firm’s 50 day simple moving average is $86.57 and its two-hundred day simple moving average is $74.21. The stock has a market capitalization of $5.18 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.18 and a beta of 0.49.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The firm had revenue of $418.84 million during the quarter, compared to the consensus estimate of $405.25 million. During the same quarter last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. On average, research analysts predict that Merit Medical Systems will post 3.84 EPS for the current fiscal year.

Institutional Trading of Merit Medical Systems

Several institutional investors have recently added to or reduced their stakes in the company. AMI Asset Management Corp lifted its stake in Merit Medical Systems by 0.8% in the first quarter. AMI Asset Management Corp now owns 21,818 shares of the medical instruments supplier’s stock worth $1,504,000 after purchasing an additional 168 shares during the last quarter. Arizona State Retirement System increased its position in shares of Merit Medical Systems by 1.1% during the second quarter. Arizona State Retirement System now owns 16,459 shares of the medical instruments supplier’s stock worth $1,141,000 after acquiring an additional 174 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Merit Medical Systems by 16.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,551 shares of the medical instruments supplier’s stock worth $107,000 after acquiring an additional 216 shares during the period. Palouse Capital Management Inc. increased its holdings in Merit Medical Systems by 29.8% during the first quarter. Palouse Capital Management Inc. now owns 1,315 shares of the medical instruments supplier’s stock valued at $91,000 after buying an additional 302 shares during the period. Finally, Personal CFO Solutions LLC increased its holdings in Merit Medical Systems by 10.6% during the first quarter. Personal CFO Solutions LLC now owns 3,290 shares of the medical instruments supplier’s stock valued at $227,000 after buying an additional 315 shares during the period. Institutional investors own 99.66% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc is a medical device company that develops, manufactures and markets disposable products used in interventional, diagnostic and therapeutic procedures. Its portfolio is designed primarily for use by physicians in hospitals, outpatient facilities and other healthcare settings.

The company’s products support a range of specialties, including cardiovascular intervention, peripheral intervention, oncology, spine and pain management, general surgery, and critical care.