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

Needham & Company LLC restated their buy rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a research note released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $101.00 price target on the medical instruments supplier’s stock.

Other equities research analysts also recently issued reports about the company. BTIG Research restated a “buy” rating and set a $105.00 price objective on shares of Merit Medical Systems in a report on Tuesday, August 11th. Zacks Research upgraded shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 25th. Wells Fargo & Company upped their price target on shares of Merit Medical Systems from $74.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $100.00 price target on shares of Merit Medical Systems in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Merit Medical Systems from $77.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Stock Down 0.1%

MMSI stock opened at $86.15 on Tuesday. The stock has a market capitalization of $5.14 billion, a P/E ratio of 35.60, a PEG ratio of 2.15 and a beta of 0.51. 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 has a one year low of $59.74 and a one year high of $94.75. The company has a 50 day moving average price of $87.38 and a two-hundred day moving average price of $74.58.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data 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 net margin of 9.22% and a return on equity of 13.75%. The business had revenue of $418.84 million for the quarter, compared to analyst estimates of $405.25 million. During the same period in the prior year, the firm posted $1.01 EPS. The company’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. As a group, sell-side analysts expect that Merit Medical Systems will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC boosted its holdings in shares of Merit Medical Systems by 3.9% in the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock worth $149,407,000 after buying an additional 81,030 shares during the period. Dimensional Fund Advisors LP lifted 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 acquiring an additional 12,285 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Merit Medical Systems in the 2nd quarter valued at approximately $78,894,000. Norges Bank purchased a new position in Merit Medical Systems during the 4th quarter worth approximately $75,957,000. Finally, Maverick Capital Ltd. raised its stake in Merit Medical Systems by 46.9% during 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. Institutional investors and hedge funds own 99.66% of the company’s stock.

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 devices are designed for use by healthcare professionals in areas including cardiology, radiology, oncology, vascular intervention, gastroenterology and other specialty fields.

The company’s product portfolio includes devices for accessing the vasculature, controlling and managing fluids, performing biopsies, treating peripheral vascular disease, delivering embolic therapies, and supporting drainage and intervention procedures.