Merit Medical Systems (NASDAQ:MMSI) Reaches New 52-Week High – Here’s What Happened

Merit Medical Systems, Inc. (NASDAQ:MMSI)’s stock price reached a new 52-week high on Monday. The stock traded as high as $94.85 and last traded at $94.4050, with a volume of 186,891 shares. The stock had previously closed at $93.30.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Merit Medical Systems from $85.00 to $94.00 and gave the company a “buy” rating in a report on Friday, July 31st. Zacks Research downgraded Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Needham & Company LLC reiterated a “buy” rating and issued a $101.00 target price on shares of Merit Medical Systems in a report on Tuesday, September 29th. Piper Sandler increased their price target on Merit Medical Systems from $96.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Robert W. Baird set a $98.00 price objective on Merit Medical Systems in a research report on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Merit Medical Systems Stock Performance

The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 38.21, a P/E/G ratio of 2.33 and a beta of 0.51. The company’s fifty day simple moving average is $88.60 and its two-hundred day simple moving average is $77.09. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.23. The business had revenue of $418.84 million for the quarter, compared to analysts’ expectations of $405.25 million. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. On average, analysts forecast that Merit Medical Systems, Inc. will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MMSI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Merit Medical Systems by 11.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,854 shares of the medical instruments supplier’s stock valued at $12,055,000 after purchasing an additional 18,276 shares in the last quarter. Jupiter Topco LLC purchased a new stake in Merit Medical Systems during the 2nd quarter valued at about $1,908,000. Trillium Asset Management LLC acquired a new stake in shares of Merit Medical Systems in the second quarter worth $6,105,000. Irenic Capital Management LP purchased a new position in shares of Merit Medical Systems during the 2nd quarter valued at about $37,623,000. Finally, Quantinno Capital Management LP boosted its position in Merit Medical Systems by 200.3% in the 1st quarter. Quantinno Capital Management LP now owns 17,612 shares of the medical instruments supplier’s stock worth $1,214,000 after purchasing an additional 11,747 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a medical device company that develops, manufactures and distributes disposable products used in interventional, diagnostic and therapeutic procedures. Its devices are designed for use by healthcare professionals in hospitals, outpatient facilities and other clinical settings.

The company’s product portfolio includes devices for vascular access, angiography, intervention, drainage, embolization, oncology and cardiac procedures. Merit also offers products used in peripheral intervention, spine procedures and other specialized areas of minimally invasive medicine, including kits, accessories and related procedural equipment.

Founded in 1987 and headquartered in South Jordan, Utah, Merit Medical serves healthcare providers through a global commercial and manufacturing network.