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

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $101.00 price target on the medical instruments supplier’s stock. Needham & Company LLC’s target price would suggest a potential upside of 17.24% from the company’s current price.

Other research analysts have also issued reports about the stock. Raymond James Financial reissued an “outperform” rating and set a $100.00 price objective on shares of Merit Medical Systems in a report on Friday, July 31st. Wells Fargo & Company raised their price objective on shares of Merit Medical Systems from $74.00 to $83.00 and gave the stock an “equal weight” rating in a report 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. JPMorgan Chase & Co. raised their price objective 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. Finally, BTIG Research reissued a “buy” rating and set a $105.00 price objective on shares of Merit Medical Systems in a report on Tuesday, August 11th. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Merit Medical Systems Stock Down 0.1%

Shares of NASDAQ:MMSI traded down $0.08 during midday trading on Tuesday, reaching $86.15. The company had a trading volume of 664,049 shares, compared to its average volume of 801,449. 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 fifty day moving average price is $87.12 and its 200-day moving average price is $74.46. The stock has a market capitalization of $5.14 billion, a P/E ratio of 35.60, a PEG ratio of 2.19 and a beta of 0.49. Merit Medical Systems has a one year low of $59.74 and a one year high of $94.75.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data 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 firm had revenue of $418.84 million for the quarter, compared to the consensus estimate 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 firm 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 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC boosted its holdings in Merit Medical Systems by 3.9% in the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock worth $149,407,000 after purchasing an additional 81,030 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Merit Medical Systems by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,237,298 shares of the medical instruments supplier’s stock worth $85,287,000 after purchasing an additional 12,285 shares during the period. William Blair Investment Management LLC acquired a new position in Merit Medical Systems in the second quarter worth $78,894,000. Norges Bank acquired a new position in Merit Medical Systems in the fourth quarter worth $75,957,000. Finally, Maverick Capital Ltd. boosted its holdings in shares of Merit Medical Systems by 46.9% during the first quarter. Maverick Capital Ltd. now owns 714,081 shares of the medical instruments supplier’s stock valued at $49,222,000 after acquiring an additional 227,915 shares during the period. Institutional investors and hedge funds 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.