Merit Medical Systems (NASDAQ:MMSI) Sets New 12-Month Low – Here’s Why

Merit Medical Systems, Inc. (NASDAQ:MMSI) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $70.67 and last traded at $71.88, with a volume of 1189672 shares trading hands. The stock had previously closed at $72.66.

Analysts Set New Price Targets

Several analysts recently weighed in on MMSI shares. Needham & Company LLC cut their price target 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, February 25th. Robert W. Baird set a $108.00 target price on shares of Merit Medical Systems in a research note on Tuesday, December 16th. Barrington Research boosted their price target on shares of Merit Medical Systems from $106.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. BTIG Research assumed coverage on shares of Merit Medical Systems in a research note on Friday, February 6th. They issued a “buy” rating and a $107.00 price target for the company. Finally, Canaccord Genuity Group raised their price objective on shares of Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.33.

Merit Medical Systems Price Performance

The firm has a market cap of $4.16 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 2.02 and a beta of 0.62. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.34 and a quick ratio of 2.95. The firm has a 50-day simple moving average of $81.14 and a 200 day simple moving average of $84.08.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Tuesday, February 24th. The medical instruments supplier reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. The firm had revenue of $393.94 million for the quarter, compared to the consensus estimate of $390.77 million. Merit Medical Systems had a net margin of 8.48% and a return on equity of 13.82%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. As a group, equities analysts expect that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently made changes to their positions in MMSI. Los Angeles Capital Management LLC bought a new stake in shares of Merit Medical Systems in the 4th quarter worth approximately $25,000. Maseco LLP bought a new position in Merit Medical Systems during the 4th quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new position in Merit Medical Systems during the third quarter valued at $37,000. Torren Management LLC purchased a new position in Merit Medical Systems during the fourth quarter valued at $38,000. Finally, Covestor Ltd boosted its holdings in Merit Medical Systems by 252.6% in the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier’s stock worth $41,000 after acquiring an additional 336 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

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.