Merit Medical Systems, Inc. (NASDAQ:MMSI) Receives $100.00 Consensus Target Price from Brokerages

Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $100.00.

MMSI has been the subject of several recent research reports. Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Piper Sandler increased their target price on shares of Merit Medical Systems from $96.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Raymond James Financial reissued an “outperform” rating and set a $100.00 target price on shares of Merit Medical Systems in a research report on Friday, July 31st. Zacks Research upgraded shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research report on Tuesday, August 11th.

Merit Medical Systems Stock Down 2.5%

Shares of NASDAQ:MMSI opened at $87.38 on Wednesday. The business’s 50 day moving average is $82.60 and its 200 day moving average is $73.25. The stock has a market cap of $5.22 billion, a P/E ratio of 36.11, a price-to-earnings-growth ratio of 2.24 and a beta of 0.49. Merit Medical Systems has a 52-week low of $59.74 and a 52-week high of $94.75. 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 (NASDAQ:MMSI) last issued its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. Merit Medical Systems had a return on equity of 13.75% and a net margin of 9.22%.The business had revenue of $418.84 million during the quarter, compared to analyst estimates of $405.25 million. During the same period in the previous year, the company posted $1.01 EPS. 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. Sell-side analysts predict that Merit Medical Systems will post 3.84 EPS for the current year.

Institutional Trading of Merit Medical Systems

A number of hedge funds have recently bought and sold shares of MMSI. California State Teachers Retirement System increased its holdings in shares of Merit Medical Systems by 6,636.5% in the 2nd quarter. California State Teachers Retirement System now owns 4,682,184 shares of the medical instruments supplier’s stock valued at $324,663,000 after acquiring an additional 4,612,679 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Merit Medical Systems during the 2nd quarter worth $78,894,000. Wellington Management Group LLP boosted its position in Merit Medical Systems by 377.7% during the third quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock valued at $103,248,000 after purchasing an additional 980,823 shares in the last quarter. Norges Bank bought a new stake in Merit Medical Systems during the fourth quarter valued at about $75,957,000. Finally, Irenic Capital Management LP purchased a new position in Merit Medical Systems in the second quarter valued at about $37,623,000. 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.