Merit Medical Systems (NASDAQ:MMSI) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Merit Medical Systems (NASDAQ:MMSI) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday morning.

Other analysts have also recently issued reports about the company. Robert W. Baird set a $108.00 target price on Merit Medical Systems in a research report on Tuesday, December 16th. Wells Fargo & Company lowered Merit Medical Systems from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $95.00 to $78.00 in a research report on Thursday, February 26th. Canaccord Genuity Group boosted their price objective on Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. BTIG Research assumed coverage on Merit Medical Systems in a report on Friday, February 6th. They issued a “buy” rating and a $107.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $101.00 target price on shares of Merit Medical Systems in a research report on Wednesday, April 1st. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.25.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $67.70 on Friday. Merit Medical Systems has a 12 month low of $66.34 and a 12 month high of $106.11. The firm has a market capitalization of $4.04 billion, a P/E ratio of 31.93, a P/E/G ratio of 1.95 and a beta of 0.64. 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 company’s fifty day moving average price is $75.42 and its 200 day moving average price is $81.58.

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

Hedge Funds Weigh In On Merit Medical Systems

Large investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter worth $25,000. Maseco LLP acquired a new position in shares of Merit Medical Systems during the fourth quarter worth about $26,000. Torren Management LLC purchased a new position in Merit Medical Systems during the fourth quarter worth about $38,000. Salomon & Ludwin LLC purchased a new position in Merit Medical Systems during the third quarter worth about $37,000. Finally, Covestor Ltd lifted its position in Merit Medical Systems by 252.6% in the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier’s stock valued at $41,000 after purchasing an additional 336 shares during the period. Hedge funds and other 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.