Merit Medical Systems (NASDAQ:MMSI) Rating Increased to Strong-Buy at Wall Street Zen
by Kim Johansen · The Markets DailyWall Street Zen upgraded shares of Merit Medical Systems (NASDAQ:MMSI – Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.
Several other equities analysts also recently weighed in on MMSI. Barrington Research increased their price target on shares of Merit Medical Systems from $106.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Canaccord Genuity Group lifted their price objective on shares of Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Wells Fargo & Company downgraded shares of Merit Medical Systems from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $95.00 to $78.00 in a report on Thursday, February 26th. Needham & Company LLC cut their price objective on shares of Merit Medical Systems from $108.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $101.25.
Get Our Latest Analysis on MMSI
Merit Medical Systems Stock Performance
Shares of MMSI opened at $68.73 on Friday. The stock has a 50-day moving average of $76.85 and a two-hundred day moving average of $82.21. Merit Medical Systems has a one year low of $66.34 and a one year high of $107.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.95 and a current ratio of 4.34. The stock has a market cap of $4.08 billion, a P/E ratio of 32.42, a P/E/G ratio of 1.98 and a beta of 0.62.
Merit Medical Systems (NASDAQ:MMSI – Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The medical instruments supplier reported $1.04 earnings per share 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 for the quarter, compared to analyst estimates of $390.77 million. During the same period in the prior year, the company earned $0.93 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. As a group, research analysts predict that Merit Medical Systems will post 3.37 EPS for the current year.
Institutional Investors Weigh In On Merit Medical Systems
A number of institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL acquired a new stake in Merit Medical Systems in the third quarter valued at approximately $2,913,050,000. Assenagon Asset Management S.A. acquired a new position in shares of Merit Medical Systems during the 3rd quarter worth approximately $1,644,000. Norges Bank purchased a new position in shares of Merit Medical Systems during the 2nd quarter valued at approximately $53,697,000. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Merit Medical Systems by 69.7% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 301,718 shares of the medical instruments supplier’s stock valued at $25,112,000 after buying an additional 123,912 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Merit Medical Systems by 7.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 917,122 shares of the medical instruments supplier’s stock valued at $76,332,000 after acquiring an additional 64,920 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.
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.