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 stock analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $101.00 target price on the medical instruments supplier’s stock. Needham & Company LLC’s price target suggests a potential upside of 15.95% from the company’s current price.

Other analysts have also recently issued reports about the stock. 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 research note on Friday, July 31st. Weiss Ratings raised shares of Merit Medical Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. 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. Robert W. Baird set a $98.00 target price on shares of Merit Medical Systems in a report on Friday, July 31st. Finally, Barrington Research set a $114.00 target price on shares of Merit Medical Systems in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Merit Medical Systems Stock Performance

Shares of MMSI stock traded down $0.77 during trading on Tuesday, reaching $87.11. 361,520 shares of the company’s stock traded hands, compared to its average volume of 800,585. The company has a market capitalization of $5.20 billion, a P/E ratio of 35.98, a PEG ratio of 2.17 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. The firm’s 50-day moving average is $86.86 and its 200 day moving average is $74.33. Merit Medical Systems has a 1 year low of $59.74 and a 1 year high of $94.75.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, beating 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%. Merit Medical Systems’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. Equities research analysts expect that Merit Medical Systems will post 3.84 EPS for the current year.

Hedge Funds Weigh In On Merit Medical Systems

Institutional investors have recently made changes to their positions in the stock. Kilter Group LLC bought a new position in shares of Merit Medical Systems in the 2nd quarter worth $25,000. Harbor Investment Advisory LLC bought a new position in shares of Merit Medical Systems in the 2nd quarter worth $50,000. State of Wyoming bought a new position in shares of Merit Medical Systems in the 2nd quarter worth $79,000. Globeflex Capital L P bought a new position in shares of Merit Medical Systems in the 2nd quarter worth $87,000. Finally, Palouse Capital Management Inc. increased its holdings in shares of Merit Medical Systems by 29.8% in the 1st quarter. Palouse Capital Management Inc. now owns 1,315 shares of the medical instruments supplier’s stock worth $91,000 after buying an additional 302 shares during the last quarter. 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.