Merit Medical Systems’ (MMSI) Buy Rating Reaffirmed at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They currently have a $101.00 price target on the medical instruments supplier’s stock. Needham & Company LLC’s price target indicates a potential upside of 16.24% from the stock’s current price.

MMSI has been the topic of several other research reports. BTIG Research reiterated a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a report on Tuesday, August 11th. Barrington Research set a $114.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. Robert W. Baird set a $98.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. Canaccord Genuity Group lifted 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. Finally, Zacks Research upgraded shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Merit Medical Systems Trading Down 0.1%

Shares of NASDAQ MMSI traded down $0.11 during mid-day trading on Tuesday, hitting $86.89. The stock had a trading volume of 25,618 shares, compared to its average volume of 799,247. The firm has a market cap of $5.19 billion, a P/E ratio of 35.94, a price-to-earnings-growth ratio of 2.18 and a beta of 0.49. The business has a 50 day moving average price of $86.57 and a two-hundred day moving average price of $74.21. Merit Medical Systems has a 1 year low of $59.74 and a 1 year high of $94.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.79 and a current ratio of 4.20.

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

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC purchased a new stake in shares of Merit Medical Systems in the second quarter valued at $78,894,000. Norges Bank purchased a new stake in Merit Medical Systems during the fourth quarter valued at about $75,957,000. Irenic Capital Management LP purchased a new stake in Merit Medical Systems during the second quarter valued at about $37,623,000. The Manufacturers Life Insurance Company purchased a new stake in Merit Medical Systems during the second quarter valued at about $33,591,000. Finally, Bank of New York Mellon Corp purchased a new stake in Merit Medical Systems during the second quarter valued at about $28,470,000. 99.66% of the stock is owned by institutional investors and hedge funds.

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.