Merit Medical Systems’ (MMSI) “Buy” Rating Reiterated at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report issued 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 points to a potential upside of 14.94% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler increased their target price on Merit Medical Systems from $96.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Wells Fargo & Company lifted their price target on Merit Medical Systems from $74.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. BTIG Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research note on Tuesday, August 11th. Bank of America increased their price objective on Merit Medical Systems from $92.00 to $97.00 and gave the stock a “neutral” rating in a 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 investment 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, 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 NASDAQ:MMSI traded up $0.87 on Tuesday, hitting $87.87. The company had a trading volume of 730,958 shares, compared to its average volume of 803,087. The firm’s 50-day simple moving average is $86.57 and its two-hundred day simple moving average is $74.21. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.18 and a beta of 0.49. 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 1 year low of $59.74 and a 1 year high of $94.75.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $418.84 million during the quarter, compared to the consensus estimate of $405.25 million. During the same period in the prior year, the firm earned $1.01 earnings per share. Merit Medical Systems’s 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. Equities analysts anticipate that Merit Medical Systems will post 3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its stake in shares of Merit Medical Systems by 10.9% in the second quarter. QRG Capital Management Inc. now owns 9,305 shares of the medical instruments supplier’s stock worth $645,000 after acquiring an additional 917 shares during the last quarter. Talon Private Wealth LLC boosted its stake in Merit Medical Systems by 36.4% in the 2nd quarter. Talon Private Wealth LLC now owns 11,727 shares of the medical instruments supplier’s stock worth $813,000 after purchasing an additional 3,130 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Merit Medical Systems during the 2nd quarter valued at about $282,000. Van Hulzen Asset Management LLC increased its stake in Merit Medical Systems by 25.0% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 28,877 shares of the medical instruments supplier’s stock valued at $2,002,000 after purchasing an additional 5,778 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Merit Medical Systems in the second quarter worth about $199,000. 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 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.