Merit Medical Systems (NASDAQ:MMSI) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Merit Medical Systems (NASDAQ:MMSI) from an overweight rating to an equal weight rating in a research report released on Thursday morning, Marketbeat reports. They currently have $78.00 target price on the medical instruments supplier’s stock, down from their previous target price of $95.00.

Other research analysts also recently issued reports about the stock. Piper Sandler decreased their price target on shares of Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Barrington Research raised their target price on Merit Medical Systems from $106.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday. BTIG Research started coverage on Merit Medical Systems in a report on Friday, February 6th. They set a “buy” rating and a $107.00 price target for the company. Needham & Company LLC decreased their price objective on Merit Medical Systems from $108.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.33.

Merit Medical Systems Stock Down 1.1%

Shares of NASDAQ MMSI opened at $77.18 on Thursday. Merit Medical Systems has a 52 week low of $76.68 and a 52 week high of $107.27. The firm’s fifty day moving average is $83.52 and its 200 day moving average is $84.85. The company has a quick ratio of 2.86, a current ratio of 4.34 and a debt-to-equity ratio of 0.46. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 2.26 and a beta of 0.61.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $390.77 million. During the same period in the previous year, the company posted $0.93 EPS. The business’s quarterly revenue 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. On average, equities research analysts expect that Merit Medical Systems will post 3.37 earnings per share for the current year.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new position in shares of Merit Medical Systems during the fourth quarter worth $25,000. Maseco LLP bought a new position in shares of Merit Medical Systems during the 4th quarter valued at about $26,000. Torren Management LLC purchased a new position in shares of Merit Medical Systems during the fourth quarter valued at about $38,000. Salomon & Ludwin LLC purchased a new position in shares of Merit Medical Systems during the third quarter valued at about $37,000. Finally, Covestor Ltd increased its holdings in shares of 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 purchasing an additional 336 shares during 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.