Merit Medical Systems (NASDAQ:MMSI) Sets New 12-Month Low – Time to Sell?

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) hit a new 52-week low on Tuesday . The stock traded as low as $70.67 and last traded at $71.88, with a volume of 1189672 shares trading hands. The stock had previously closed at $72.66.

Analysts Set New Price Targets

MMSI has been the subject of several analyst reports. Wells Fargo & Company cut Merit Medical Systems from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $95.00 to $78.00 in a research note on Thursday, February 26th. Barrington Research lifted their price objective on shares of Merit Medical Systems from $106.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Zacks Research downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Needham & Company LLC reduced their target price on shares of Merit Medical Systems from $108.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Piper Sandler lowered their target price on shares of Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems has an average rating of “Moderate Buy” and an average price target of $103.33.

Merit Medical Systems Price Performance

The stock has a fifty day moving average of $81.87 and a two-hundred day moving average of $84.31. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62. The company has a quick ratio of 2.95, a current ratio of 4.34 and a debt-to-equity ratio of 0.46.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results 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 company had revenue of $393.94 million for the quarter, compared to analyst estimates of $390.77 million. Merit Medical Systems had a net margin of 8.48% and a return on equity of 13.82%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. On average, equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $25,000. Maseco LLP purchased a new position in Merit Medical Systems in the 4th quarter valued at approximately $26,000. Torren Management LLC acquired a new position in Merit Medical Systems during the fourth quarter worth $38,000. Salomon & Ludwin LLC acquired a new position in Merit Medical Systems during the third quarter worth $37,000. Finally, Covestor Ltd boosted its position in Merit Medical Systems by 252.6% during the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier’s stock worth $41,000 after purchasing an additional 336 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

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.