Merit Medical Systems (NASDAQ:MMSI) Reaches New 12-Month High – Should You Buy?

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) reached a new 52-week high during mid-day trading on Monday. The company traded as high as $94.85 and last traded at $94.4050, with a volume of 186,891 shares trading hands. The stock had previously closed at $93.30.

Analyst Upgrades and Downgrades

MMSI has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Merit Medical Systems from $74.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Robert W. Baird set a $98.00 price target on Merit Medical Systems in a research report on Friday, July 31st. Weiss Ratings raised Merit Medical Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, October 12th. Zacks Research downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Bank of America upped their price target on shares of Merit Medical Systems from $92.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Merit Medical Systems Trading Up 1.0%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.79 and a current ratio of 4.20. The stock has a fifty day moving average of $88.43 and a 200 day moving average of $76.87. The company has a market capitalization of $5.63 billion, a PE ratio of 39.00, a PEG ratio of 2.33 and a beta of 0.51.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.23. The company had revenue of $418.84 million during the quarter, compared to analysts’ expectations of $405.25 million. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. Merit Medical Systems’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. As a group, sell-side analysts predict that Merit Medical Systems, Inc. will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Merit Medical Systems

A number of large investors have recently made changes to their positions in the business. AMI Asset Management Corp increased its position in shares of Merit Medical Systems by 0.8% during the 1st quarter. AMI Asset Management Corp now owns 21,818 shares of the medical instruments supplier’s stock valued at $1,504,000 after purchasing an additional 168 shares during the last quarter. Arizona State Retirement System increased its position in shares of Merit Medical Systems by 1.1% during the second quarter. Arizona State Retirement System now owns 16,459 shares of the medical instruments supplier’s stock worth $1,141,000 after acquiring an additional 174 shares during the period. Sowell Financial Services LLC grew its position in shares of Merit Medical Systems by 4.0% during the 3rd quarter. Sowell Financial Services LLC now owns 4,609 shares of the medical instruments supplier’s stock worth $397,000 after buying an additional 179 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Merit Medical Systems by 16.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,551 shares of the medical instruments supplier’s stock worth $107,000 after purchasing an additional 216 shares during the period. Finally, Brucke Financial Inc. boosted its position in Merit Medical Systems by 5.8% during the 3rd quarter. Brucke Financial Inc. now owns 4,475 shares of the medical instruments supplier’s stock valued at $386,000 after acquiring an additional 247 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a medical device company that develops, manufactures and distributes disposable products used in interventional, diagnostic and therapeutic procedures. Its devices are designed for use by healthcare professionals in hospitals, outpatient facilities and other clinical settings.

The company’s product portfolio includes devices for vascular access, angiography, intervention, drainage, embolization, oncology and cardiac procedures. Merit also offers products used in peripheral intervention, spine procedures and other specialized areas of minimally invasive medicine, including kits, accessories and related procedural equipment.

Founded in 1987 and headquartered in South Jordan, Utah, Merit Medical serves healthcare providers through a global commercial and manufacturing network.