Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $109.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective hoisted by Barrington Research from $106.00 to $109.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the medical instruments supplier’s stock.

Several other brokerages have also recently weighed in on MMSI. Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 29th. Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Robert W. Baird set a $108.00 price objective on shares of Merit Medical Systems in a research note on Tuesday, December 16th. Needham & Company LLC reduced their target price on shares of Merit Medical Systems from $108.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Canaccord Genuity Group upped their target price on shares of Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $103.33.

Merit Medical Systems Trading Down 1.1%

Shares of MMSI stock opened at $77.18 on Wednesday. The company has a current ratio of 4.34, a quick ratio of 2.86 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 2.29 and a beta of 0.61. Merit Medical Systems has a 12-month low of $76.68 and a 12-month high of $107.27. The stock’s 50-day moving average price is $83.52 and its 200-day moving average price is $84.85.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Tuesday, February 24th. The medical instruments supplier reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.08. Merit Medical Systems had a return on equity of 13.82% and a net margin of 8.48%.The business had revenue of $393.94 million during the quarter, compared to analysts’ expectations of $390.77 million. During the same quarter last year, the business posted $0.93 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Equities research analysts predict that Merit Medical Systems will post 3.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

A number of large investors have recently made changes to their positions in MMSI. Ameritas Investment Partners Inc. raised its position in Merit Medical Systems by 2.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,973 shares of the medical instruments supplier’s stock worth $558,000 after purchasing an additional 131 shares during the period. Norden Group LLC grew its stake in shares of Merit Medical Systems by 5.7% during the third quarter. Norden Group LLC now owns 2,536 shares of the medical instruments supplier’s stock valued at $211,000 after buying an additional 137 shares during the last quarter. Lido Advisors LLC raised its holdings in shares of Merit Medical Systems by 3.8% in the fourth quarter. Lido Advisors LLC now owns 3,836 shares of the medical instruments supplier’s stock worth $324,000 after buying an additional 140 shares during the period. Bryn Mawr Trust Advisors LLC lifted its stake in shares of Merit Medical Systems by 7.2% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 2,225 shares of the medical instruments supplier’s stock worth $208,000 after acquiring an additional 149 shares during the last quarter. Finally, Hilltop National Bank boosted its holdings in Merit Medical Systems by 8.7% during the 3rd quarter. Hilltop National Bank now owns 2,119 shares of the medical instruments supplier’s stock valued at $176,000 after acquiring an additional 169 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

About Merit Medical Systems

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.