Merit Medical Systems (NASDAQ:MMSI) Earns “Buy” Rating from BTIG Research

Merit Medical Systems (NASDAQ:MMSI)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a research note issued on Tuesday,Benzinga reports. They currently have a $105.00 price target on the medical instruments supplier’s stock. BTIG Research’s price objective points to a potential upside of 16.99% from the company’s previous close.

A number of other equities research analysts also recently weighed in on MMSI. Robert W. Baird set a $98.00 target price on Merit Medical Systems in a report on Friday, July 31st. Compass Point set a $107.00 target price on shares of Merit Medical Systems in a research report on Monday, April 20th. Citigroup reiterated an “outperform” rating on shares of Merit Medical Systems in a research note on Monday, April 20th. Needham & Company LLC increased their price target on Merit Medical Systems from $90.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Piper Sandler lifted their price objective on Merit Medical Systems from $96.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.30.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $89.75 on Tuesday. The firm has a 50-day moving average of $72.76 and a 200-day moving average of $71.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.79 and a current ratio of 4.20. The stock has a market cap of $5.36 billion, a PE ratio of 37.09, a P/E/G ratio of 2.24 and a beta of 0.48. Merit Medical Systems has a 52-week low of $59.74 and a 52-week high of $94.75.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. The business had revenue of $418.84 million for the quarter, compared to analyst estimates of $405.25 million. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. Merit Medical Systems’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. On average, sell-side analysts anticipate that Merit Medical Systems will post 3.81 EPS for the current year.

Hedge Funds Weigh In On Merit Medical Systems

A number of institutional investors have recently modified their holdings of the business. State Street Corp boosted its stake in Merit Medical Systems by 1.5% in the fourth quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier’s stock valued at $196,645,000 after buying an additional 32,459 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Merit Medical Systems by 3.9% during the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock worth $149,407,000 after acquiring an additional 81,030 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Merit Medical Systems by 12.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,796 shares of the medical instruments supplier’s stock worth $183,137,000 after acquiring an additional 234,682 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Merit Medical Systems by 7.0% in the fourth quarter. Wellington Management Group LLP now owns 1,327,013 shares of the medical instruments supplier’s stock worth $116,963,000 after acquiring an additional 86,504 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Merit Medical Systems by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,237,298 shares of the medical instruments supplier’s stock worth $85,287,000 after acquiring an additional 12,285 shares during the last quarter. Institutional investors and hedge funds 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.