Merit Medical Systems’ (MMSI) “Buy” Rating Reiterated at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $101.00 target price on the medical instruments supplier’s stock. Needham & Company LLC’s price objective points to a potential upside of 16.09% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Robert W. Baird set a $98.00 price target on Merit Medical Systems in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on Merit Medical Systems from $77.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Weiss Ratings upgraded Merit Medical Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Bank of America upped their price target on Merit Medical Systems from $92.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Zacks Research raised Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $87.00 on Tuesday. The stock’s 50-day moving average is $86.57 and its two-hundred day moving average is $74.21. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79. Merit Medical Systems has a 1-year low of $59.74 and a 1-year high of $94.75. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 35.95, a price-to-earnings-growth ratio of 2.18 and a beta of 0.49.

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

Institutional Investors Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Conestoga Capital Advisors LLC raised its stake in Merit Medical Systems by 3.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock worth $149,407,000 after acquiring an additional 81,030 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Merit Medical Systems by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,237,298 shares of the medical instruments supplier’s stock valued at $85,287,000 after purchasing an additional 12,285 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Merit Medical Systems in the 2nd quarter valued at about $78,894,000. Norges Bank acquired a new stake in shares of Merit Medical Systems in the 4th quarter valued at about $75,957,000. Finally, Maverick Capital Ltd. boosted its position in shares of Merit Medical Systems by 46.9% in the 1st quarter. Maverick Capital Ltd. now owns 714,081 shares of the medical instruments supplier’s stock valued at $49,222,000 after purchasing an additional 227,915 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Company Profile

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.