Merit Medical Systems (NASDAQ:MMSI) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Merit Medical Systems (NASDAQ:MMSI) in a report released on Wednesday,Benzinga reports. They currently have a $101.00 price objective on the medical instruments supplier’s stock.

MMSI has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Merit Medical Systems in a report on Friday, March 27th. Wall Street Zen upgraded Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 28th. Robert W. Baird set a $108.00 price target on Merit Medical Systems in a research report on Tuesday, December 16th. Piper Sandler cut their price objective on Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Finally, Wells Fargo & Company cut shares of Merit Medical Systems from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $95.00 to $78.00 in a research note on Thursday, February 26th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $101.25.

Merit Medical Systems Stock Down 1.0%

Merit Medical Systems stock opened at $68.23 on Wednesday. The company has a current ratio of 4.34, a quick ratio of 2.95 and a debt-to-equity ratio of 0.46. Merit Medical Systems has a 1-year low of $66.34 and a 1-year high of $107.27. The company has a fifty day simple moving average of $76.02 and a 200 day simple moving average of $81.80. The company has a market cap of $4.05 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Tuesday, February 24th. The medical instruments supplier reported $1.04 EPS for the quarter, topping the consensus estimate of $0.96 by $0.08. The firm had revenue of $393.94 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Research analysts anticipate that Merit Medical Systems will post 3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in Merit Medical Systems by 7.3% in the first quarter. AQR Capital Management LLC now owns 16,361 shares of the medical instruments supplier’s stock valued at $1,730,000 after buying an additional 1,114 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Merit Medical Systems by 16.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier’s stock worth $76,039,000 after acquiring an additional 103,878 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Merit Medical Systems during the 2nd quarter worth approximately $540,000. Russell Investments Group Ltd. raised its stake in Merit Medical Systems by 26.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 50,730 shares of the medical instruments supplier’s stock valued at $4,742,000 after acquiring an additional 10,722 shares during the period. Finally, Norges Bank bought a new stake in Merit Medical Systems in the 2nd quarter valued at $53,697,000. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

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.