Merit Medical Systems (NASDAQ:MMSI) Stock Keeps “Buy” Rating at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a note issued to investors 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 indicates a potential upside of 14.94% from the company’s current price.

A number of other analysts have also recently commented on MMSI. JPMorgan Chase & Co. upped their price objective on shares of Merit Medical Systems from $77.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Raymond James Financial restated an “outperform” rating and issued a $100.00 price objective on shares of Merit Medical Systems in a research report on Friday, July 31st. Piper Sandler upped their price objective on shares of Merit Medical Systems from $96.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Merit Medical Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Finally, Robert W. Baird set a $98.00 target price on shares of Merit Medical Systems in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Merit Medical Systems Trading Up 1.0%

Shares of MMSI traded up $0.87 during trading hours on Tuesday, reaching $87.87. The stock had a trading volume of 730,947 shares, compared to its average volume of 803,086. 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 has a 52 week low of $59.74 and a 52 week high of $94.75. The firm has a 50-day moving average of $86.57 and a 200 day moving average of $74.21. The company has a market cap of $5.25 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.18 and a beta of 0.49.

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, beating analysts’ consensus estimates 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 business had revenue of $418.84 million during the quarter, compared to analysts’ expectations of $405.25 million. During the same quarter in the prior year, the company earned $1.01 EPS. The firm’s quarterly revenue 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. On average, sell-side 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

Large investors have recently modified their holdings of the business. Conestoga Capital Advisors LLC boosted its stake in shares of Merit Medical Systems by 3.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock worth $149,407,000 after buying an additional 81,030 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Merit Medical Systems by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,237,298 shares of the medical instruments supplier’s stock worth $85,287,000 after buying an additional 12,285 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Merit Medical Systems during the 2nd quarter worth about $78,894,000. Norges Bank acquired a new position in shares of Merit Medical Systems during the 4th quarter worth about $75,957,000. Finally, Maverick Capital Ltd. boosted its stake in shares of Merit Medical Systems by 46.9% during the 1st quarter. Maverick Capital Ltd. now owns 714,081 shares of the medical instruments supplier’s stock worth $49,222,000 after buying an additional 227,915 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

About Merit Medical Systems

Merit Medical Systems, Inc is a medical device company that develops, manufactures and markets disposable products used in interventional, diagnostic and therapeutic procedures. Its portfolio is designed primarily for use by physicians in hospitals, outpatient facilities and other healthcare settings.

The company’s products support a range of specialties, including cardiovascular intervention, peripheral intervention, oncology, spine and pain management, general surgery, and critical care.