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

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $101.00 target price on the medical instruments supplier’s stock. Needham & Company LLC’s price target would suggest a potential upside of 17.13% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Merit Medical Systems from $77.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Piper Sandler lifted their target price on shares of Merit Medical Systems from $96.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. BTIG Research reaffirmed a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a research note on Tuesday, August 11th. Bank of America lifted 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. Finally, Robert W. Baird set a $98.00 target price on shares of Merit Medical Systems in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock traded down $1.64 on Tuesday, reaching $86.23. 634,097 shares of the company traded hands, compared to its average volume of 802,180. Merit Medical Systems has a 52 week low of $59.74 and a 52 week high of $94.75. The company has a 50 day moving average of $86.86 and a 200 day moving average of $74.33. The firm has a market capitalization of $5.15 billion, a PE ratio of 35.63, a PEG ratio of 2.17 and a beta of 0.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, topping the consensus estimate of $0.96 by $0.23. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The company had revenue of $418.84 million during the quarter, compared to the consensus estimate of $405.25 million. During the same period last year, the firm earned $1.01 EPS. Merit Medical Systems’s revenue for the quarter 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. Equities analysts forecast that Merit Medical Systems will post 3.84 earnings per share for the current year.

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds have recently modified their holdings of the stock. Kilter Group LLC purchased a new position in shares of Merit Medical Systems in the second quarter worth $25,000. Harbor Investment Advisory LLC purchased a new stake in Merit Medical Systems during the second quarter valued at $50,000. State of Wyoming purchased a new stake in Merit Medical Systems during the second quarter valued at $79,000. Globeflex Capital L P purchased a new stake in Merit Medical Systems during the second quarter valued at $87,000. Finally, Palouse Capital Management Inc. raised its stake in shares of 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. 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.