Merit Medical Systems’ (MMSI) Buy Rating Reaffirmed at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating reissued by Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They currently 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 17.86% from the stock’s current price.

A number of other research firms have also recently commented on MMSI. Barrington Research set a $114.00 target price on Merit Medical Systems 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 research note on Tuesday, August 25th. Piper Sandler upped their target price on Merit Medical Systems from $96.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Canaccord Genuity Group upped their target price on Merit Medical Systems from $85.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised Merit Medical Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Trading Up 0.4%

Shares of MMSI stock opened at $85.69 on Tuesday. Merit Medical Systems has a 1 year low of $59.74 and a 1 year high of $94.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79. The stock’s 50 day simple moving average is $87.61 and its two-hundred day simple moving average is $74.69. The company has a market cap of $5.12 billion, a PE ratio of 35.41, a price-to-earnings-growth ratio of 2.13 and a beta of 0.51.

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

Institutional Trading of Merit Medical Systems

A number of hedge funds have recently bought and sold shares of MMSI. Jupiter Topco LLC purchased a new position in Merit Medical Systems in the 2nd quarter worth $1,908,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Merit Medical Systems by 11.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,854 shares of the medical instruments supplier’s stock worth $12,055,000 after acquiring an additional 18,276 shares during the last quarter. Trillium Asset Management LLC purchased a new position in Merit Medical Systems in the 2nd quarter worth $6,105,000. WINTON GROUP Ltd purchased a new position in Merit Medical Systems in the 4th quarter worth $12,239,000. Finally, Quantinno Capital Management LP raised its stake in Merit Medical Systems by 200.3% in the 1st quarter. Quantinno Capital Management LP now owns 17,612 shares of the medical instruments supplier’s stock worth $1,214,000 after acquiring an additional 11,747 shares during the last quarter. Hedge funds and other institutional investors 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.