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

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $101.00 price target on the medical instruments supplier’s stock. Needham & Company LLC’s target price points to a potential upside of 16.28% from the company’s previous close.

MMSI has been the topic of several other reports. Wells Fargo & Company increased their target price on Merit Medical Systems from $74.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Zacks Research raised Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. BTIG Research restated a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research note on Tuesday, August 11th. Raymond James Financial restated an “outperform” rating and issued a $100.00 price target on shares of Merit Medical Systems in a research note on Friday, July 31st. Finally, Canaccord Genuity Group raised their price target on Merit Medical Systems from $85.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $86.86 on Tuesday. The company has a quick ratio of 2.79, a current ratio of 4.20 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $5.19 billion, a P/E ratio of 36.06, a PEG ratio of 2.18 and a beta of 0.49. The stock’s 50 day moving average is $86.57 and its 200 day moving average is $74.21. Merit Medical Systems has a twelve month low of $59.74 and a twelve month high of $94.75.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, beating 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 business had revenue of $418.84 million for the quarter, compared to the consensus estimate of $405.25 million. During the same period last year, the business posted $1.01 EPS. The company’s revenue 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, equities research analysts predict that Merit Medical Systems will post 3.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently bought and sold shares of MMSI. Jupiter Topco LLC bought a new stake in Merit Medical Systems during the second quarter valued at about $1,908,000. Trillium Asset Management LLC bought a new stake in Merit Medical Systems during the second quarter valued at about $6,105,000. WINTON GROUP Ltd bought a new stake in Merit Medical Systems during the fourth quarter valued at about $12,239,000. Quantinno Capital Management LP raised its holdings in Merit Medical Systems by 200.3% during the first quarter. Quantinno Capital Management LP now owns 17,612 shares of the medical instruments supplier’s stock valued at $1,214,000 after acquiring an additional 11,747 shares during the period. Finally, Norges Bank bought a new stake in Merit Medical Systems during the fourth quarter valued at about $75,957,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

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.