Merit Medical Systems (NASDAQ:MMSI) Given New $90.00 Price Target at Canaccord Genuity Group

Merit Medical Systems (NASDAQ:MMSI) had its target price dropped by investment analysts at Canaccord Genuity Group from $99.00 to $90.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s target price points to a potential upside of 33.08% from the stock’s previous close.

Several other research firms have also commented on MMSI. Needham & Company LLC reiterated a “buy” rating and issued a $101.00 price objective on shares of Merit Medical Systems in a research report on Wednesday, April 1st. Wall Street Zen lowered shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Barrington Research boosted their target price on shares of Merit Medical Systems from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Wells Fargo & Company downgraded shares of Merit Medical Systems from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $95.00 to $78.00 in a research note on Thursday, February 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research note on Friday, March 27th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $100.13.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock traded down $0.18 on Tuesday, hitting $67.63. The company’s stock had a trading volume of 36,965 shares, compared to its average volume of 783,710. Merit Medical Systems has a 52-week low of $66.34 and a 52-week high of $100.19. The company has a quick ratio of 2.95, a current ratio of 4.34 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $75.13 and a 200-day moving average price of $81.47. The company has a market capitalization of $4.03 billion, a P/E ratio of 32.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data 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. Merit Medical Systems had a net margin of 8.48% and a return on equity of 13.82%. The business had revenue of $393.94 million for the quarter, compared to analyst estimates of $390.77 million. During the same period in the previous year, the firm earned $0.93 EPS. The business’s revenue for the quarter 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 fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MMSI. Tudor Investment Corp ET AL purchased a new position in shares of Merit Medical Systems during the 3rd quarter worth about $2,913,050,000. Wellington Management Group LLP lifted its holdings in shares of Merit Medical Systems by 377.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock worth $103,248,000 after acquiring an additional 980,823 shares during the period. Norges Bank purchased a new position in shares of Merit Medical Systems during the 4th quarter worth about $75,957,000. Thrivent Financial for Lutherans lifted its holdings in shares of Merit Medical Systems by 250.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 750,066 shares of the medical instruments supplier’s stock worth $62,428,000 after acquiring an additional 536,072 shares during the period. Finally, Iron Triangle Partners LP purchased a new position in shares of Merit Medical Systems during the 4th quarter worth about $33,992,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

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.