Merit Medical Systems (NASDAQ:MMSI) Earns “Buy” Rating from Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $101.00 price objective on the medical instruments supplier’s stock. Needham & Company LLC’s target price indicates a potential upside of 18.07% from the company’s previous close.

Several other equities research analysts also recently commented on MMSI. BTIG Research reaffirmed a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a report on Tuesday, August 11th. Weiss Ratings raised Merit Medical Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Barrington Research set a $114.00 price objective on Merit Medical Systems in a report on Friday, July 31st. Robert W. Baird set a $98.00 price objective on Merit Medical Systems in a report on Friday, July 31st. Finally, Bank of America raised their price objective on shares of Merit Medical Systems from $92.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. One equities research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Stock Down 0.7%

Shares of MMSI traded down $0.60 during trading on Tuesday, reaching $85.55. The company’s stock had a trading volume of 196,736 shares, compared to its average volume of 798,295. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 0.51. Merit Medical Systems has a twelve month low of $59.74 and a twelve month high of $94.75. The company has a fifty day moving average of $87.38 and a two-hundred day moving average of $74.58. The company has a quick ratio of 2.79, a current ratio of 4.20 and a debt-to-equity ratio of 0.44.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.23. The company had revenue of $418.84 million for 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%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. On average, sell-side analysts predict that Merit Medical Systems will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kilter Group LLC bought a new stake in Merit Medical Systems in the second quarter valued at about $25,000. Harbor Investment Advisory LLC acquired a new position in Merit Medical Systems in the second quarter valued at about $50,000. State of Wyoming acquired a new position in Merit Medical Systems in the second quarter valued at about $79,000. Globeflex Capital L P acquired a new position in Merit Medical Systems in the second quarter valued at about $87,000. Finally, Palouse Capital Management Inc. grew its stake in Merit Medical Systems by 29.8% in the first quarter. Palouse Capital Management Inc. now owns 1,315 shares of the medical instruments supplier’s stock valued at $91,000 after acquiring an additional 302 shares during the period. 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.