Bank of America Forecasts Strong Price Appreciation for Merit Medical Systems (NASDAQ:MMSI) Stock

Key Points

• Bank of America raised Merit Medical Systems’ price target to $97 from $92 while maintaining a “neutral” rating, implying 6.36% upside from the prior close.
• Analyst sentiment is broadly positive: eight analysts rate the stock a Buy and four a Hold, resulting in a “Moderate Buy” consensus rating and an average price target of $100.
• Merit Medical exceeded quarterly expectations, reporting $1.19 in EPS versus the $0.96 consensus and $418.84 million in revenue, up 9.5% year over year; institutional investors own 99.66% of shares.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) had its target price increased by Bank of America from $92.00 to $97.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the medical instruments supplier's stock. Bank of America's price target would suggest a potential upside of 6.36% from the company's previous close.

A number of other brokerages have also commented on MMSI. Canaccord Genuity Group raised their price objective on Merit Medical Systems from $85.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Weiss Ratings raised shares of Merit Medical Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Piper Sandler upped their price target on shares of Merit Medical Systems from $96.00 to $106.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Raymond James Financial reiterated an "outperform" rating and set a $100.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. Finally, BTIG Research reiterated a "buy" rating and issued a $105.00 target price on shares of Merit Medical Systems in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.00.

Merit Medical Systems Stock Up 0.1%

MMSI stock opened at $91.20 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79. The firm has a market capitalization of $5.45 billion, a P/E ratio of 37.69, a P/E/G ratio of 2.29 and a beta of 0.49. Merit Medical Systems has a 52-week low of $59.74 and a 52-week high of $94.75. The company's 50 day simple moving average is $73.98 and its 200-day simple moving average is $72.06.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.23. The company had revenue of $418.84 million for the quarter, compared to the consensus estimate of $405.25 million. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The company's revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. As a group, equities research analysts anticipate that Merit Medical Systems will post 3.81 EPS for the current year.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Merit Medical Systems by 1.5% during the 4th quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier's stock worth $196,645,000 after purchasing an additional 32,459 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Merit Medical Systems by 3.9% in the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier's stock valued at $149,407,000 after purchasing an additional 81,030 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Merit Medical Systems by 12.7% in 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 purchasing an additional 234,682 shares during the period. Wellington Management Group LLP lifted its position in 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 purchasing an additional 86,504 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Merit Medical Systems by 1.0% during 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 buying an additional 12,285 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

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.

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