Bank of America Issues Positive Forecast for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI) had its price target increased by Bank of America from $92.00 to $97.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical instruments supplier’s stock. Bank of America‘s price objective would suggest a potential upside of 6.36% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Needham & Company LLC raised their price objective on shares of Merit Medical Systems from $90.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Compass Point set a $107.00 price target on shares of Merit Medical Systems in a research note on Monday, April 20th. Weiss Ratings raised shares of Merit Medical Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Robert W. Baird set a $98.00 target price on Merit Medical Systems in a research note on Friday, July 31st. Finally, Piper Sandler lifted their target price on shares of Merit Medical Systems from $96.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $91.20 on Thursday. The stock has a market capitalization of $5.45 billion, a P/E ratio of 37.69, a price-to-earnings-growth ratio of 2.29 and a beta of 0.49. The company has a current ratio of 4.20, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44. Merit Medical Systems has a 1 year low of $59.74 and a 1 year high of $94.75. The firm has a 50 day moving average of $73.98 and a 200-day moving average of $72.06.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $405.25 million. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’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 anticipate that Merit Medical Systems will post 3.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Merit Medical Systems

A number of institutional investors have recently modified their holdings of the business. William Blair Investment Management LLC bought a new position in shares of Merit Medical Systems during the second quarter worth approximately $78,894,000. Wellington Management Group LLP boosted its stake in shares of Merit Medical Systems by 377.7% in the third quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock valued at $103,248,000 after buying an additional 980,823 shares during the period. Norges Bank acquired a new stake in Merit Medical Systems during the fourth quarter worth approximately $75,957,000. Bank of New York Mellon Corp acquired a new stake in Merit Medical Systems during the second quarter worth approximately $28,470,000. Finally, Iron Triangle Partners LP bought a new position in Merit Medical Systems during the 4th quarter worth $33,992,000. Institutional investors own 99.66% of the company’s stock.

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.