Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $110.00

Key Points

• JPMorgan raised Merit Medical Systems’ price target to $110 from $95 and maintained an “overweight” rating, implying 27.55% upside from the previous close.
• Analyst sentiment remains generally positive, with eight Buy ratings and five Holds; MarketBeat reports a “Moderate Buy” consensus and an average target price of $105.55.
• Despite beating quarterly earnings and revenue expectations, MMSI shares fell 7.7% to $86.24 in Friday trading. The stock trades at roughly 36 times earnings and near its 52-week high, highlighting valuation concerns.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) had its price target increased by research analysts at JPMorgan Chase & Co. from $95.00 to $110.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the medical instruments supplier's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 27.55% from the stock's previous close.

Several other equities analysts also recently commented on MMSI. Zacks Research downgraded Merit Medical Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 19th. Freedom Capital initiated coverage on Merit Medical Systems in a research note on Tuesday. They set a "hold" rating for the company. Needham & Company LLC lifted their price objective on Merit Medical Systems from $101.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday. Barrington Research set a $114.00 target price on shares of Merit Medical Systems in a research note on Friday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of Merit Medical Systems from $83.00 to $92.00 and gave the company an "equal weight" rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.55.

Merit Medical Systems Stock Down 7.7%

MMSI stock traded down $7.15 during trading on Friday, hitting $86.24. 1,804,091 shares of the company's stock were exchanged, compared to its average volume of 793,302. The company has a current ratio of 4.20, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 2.30 and a beta of 0.51. The business has a 50-day moving average price of $88.68 and a two-hundred day moving average price of $77.12. Merit Medical Systems has a 52-week low of $59.74 and a 52-week high of $94.85.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its earnings results on Thursday, October 29th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.08. The company had revenue of $416.24 million during the quarter, compared to analyst estimates of $410.56 million. Merit Medical Systems had a return on equity of 13.75% and a net margin of 9.22%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. As a group, equities research analysts expect that Merit Medical Systems will post 3.84 EPS for the current year.

Institutional Trading of Merit Medical Systems

Institutional investors have recently bought and sold shares of the company. Congress Asset Management Co. increased its holdings in shares of Merit Medical Systems by 6.4% in the third quarter. Congress Asset Management Co. now owns 1,260,675 shares of the medical instruments supplier's stock worth $108,708,000 after purchasing an additional 76,338 shares during the period. Dimensional Fund Advisors LP grew its holdings in Merit Medical Systems by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,237,298 shares of the medical instruments supplier's stock valued at $85,287,000 after buying an additional 12,285 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Merit Medical Systems in the 2nd quarter valued at about $78,894,000. Maverick Capital Ltd. increased its position in shares of Merit Medical Systems by 46.9% in the 1st quarter. Maverick Capital Ltd. now owns 714,081 shares of the medical instruments supplier's stock valued at $49,222,000 after acquiring an additional 227,915 shares during the period. Finally, Irenic Capital Management LP acquired a new position in Merit Medical Systems in the 2nd quarter worth about $37,623,000. Institutional investors and hedge funds own 99.66% of the company's stock.

Key Stories Impacting Merit Medical Systems

Here are the key news stories impacting Merit Medical Systems this week:

• Positive Sentiment: Strong Q3 earnings beat expectations. Merit reported third-quarter revenue of $416.2 million, up 8.4% year over year and ahead of the $410.6 million consensus estimate. Non-GAAP EPS was $1.12 versus expectations of $1.04, while GAAP EPS rose 51% to $0.70. Merit Medical Q3 2026 results
• Positive Sentiment: Profitability and cash generation improved. Organic constant-currency revenue increased 9%, GAAP operating margin expanded to 14.1% from 11.1%, and year-to-date operating cash flow reached $175.2 million, with $129.5 million in free cash flow.
• Positive Sentiment: Full-year guidance was raised. Management increased its 2026 earnings outlook following the strong quarter, supporting expectations for continued growth. Merit Medical raises 2026 guidance
• Positive Sentiment: Analysts raised targets. BTIG Research lifted its target from $105 to $110 and maintained a buy rating. Wells Fargo raised its target from $83 to $92, although it retained an equal-weight rating. Analysts raise Merit Medical price targets
• Positive Sentiment: Cardiac-therapy capabilities expanded. Merit acquired Solo Pace, adding temporary pacing technology designed for patients with aortic stenosis and strengthening its TAVR-related product portfolio. Merit Medical acquires Solo Pace
• Neutral Sentiment: Valuation remains a consideration. With the stock trading at roughly 36 times earnings and near its 52-week high, investors may be demanding continued execution, leaving limited room for disappointment.
• Negative Sentiment: Some caution remains among analysts. Wells Fargo’s equal-weight rating and the company’s narrowed sales outlook temper the bullish impact of the earnings beat and guidance increase.

About Merit Medical Systems

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.