Merit Medical Systems' (MMSI) Buy Rating Reaffirmed at Needham & Company LLC

Merit Medical Systems (NASDAQ:MMSI - Get Free Report)'s stock had its "buy" rating reiterated by Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $101.00 price target on the medical instruments supplier's stock. Needham & Company LLC's price objective indicates a potential upside of 16.09% from the stock's previous close.

A number of other brokerages have also recently issued reports on MMSI. JPMorgan Chase & Co. boosted their price objective on Merit Medical Systems from $77.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Piper Sandler boosted their price target on Merit Medical Systems from $96.00 to $106.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Bank of America increased their price objective on Merit Medical Systems from $92.00 to $97.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Barrington Research set a $114.00 target price on shares of Merit Medical Systems in a research report on Friday, July 31st. Finally, Canaccord Genuity Group lifted their price objective on shares of Merit Medical Systems from $85.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Merit Medical Systems has an average rating of "Moderate Buy" and a consensus price target of $100.00.

Merit Medical Systems Trading Down 0.6%

Shares of NASDAQ:MMSI opened at $87.00 on Tuesday. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 2.18 and a beta of 0.49. The company has a quick ratio of 2.79, a current ratio of 4.20 and a debt-to-equity ratio of 0.44. Merit Medical Systems has a 12 month low of $59.74 and a 12 month high of $94.75. The company's fifty day simple moving average is $86.57 and its 200 day simple moving average is $74.21.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued 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 company had revenue of $418.84 million for the quarter, compared to analyst estimates of $405.25 million. Merit Medical Systems had a return on equity of 13.75% and a net margin of 9.22%.The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. As a group, research analysts forecast that Merit Medical Systems will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Merit Medical Systems

Several hedge funds have recently modified their holdings of MMSI. Kilter Group LLC acquired a new position in Merit Medical Systems in the 2nd quarter worth about $25,000. Harbor Investment Advisory LLC acquired a new position in shares of Merit Medical Systems in the second quarter valued at approximately $50,000. State of Wyoming acquired a new stake in Merit Medical Systems during the 2nd quarter worth approximately $79,000. Globeflex Capital L P bought a new stake in Merit Medical Systems during the 2nd quarter worth approximately $87,000. Finally, Palouse Capital Management Inc. increased its position in Merit Medical Systems by 29.8% in the 1st quarter. Palouse Capital Management Inc. now owns 1,315 shares of the medical instruments supplier's stock valued at $91,000 after acquiring an additional 302 shares during the period. Institutional investors and hedge funds own 99.66% of the company's stock.

About Merit Medical Systems

Merit Medical Systems, Inc is a medical device company that develops, manufactures and markets disposable products used in interventional, diagnostic and therapeutic procedures. Its portfolio is designed primarily for use by physicians in hospitals, outpatient facilities and other healthcare settings.

The company's products support a range of specialties, including cardiovascular intervention, peripheral intervention, oncology, spine and pain management, general surgery, and critical care.