BTIG Research Forecasts Strong Price Appreciation for Merit Medical Systems (NASDAQ:MMSI) Stock

Key Points

• BTIG Research raised its price target for Merit Medical Systems from $100 to $105 and maintained a “buy” rating, implying roughly 26% upside from the reported share price.
• Merit delivered a strong quarterly performance, with revenue up 9.5% year over year to $418.8 million and EPS of $1.19, beating analyst expectations. The company also issued fiscal 2026 adjusted EPS guidance of $4.25–$4.35.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $92.78, although year-to-date operating and free cash flow declined 11% and 14%, respectively.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) had its price objective upped by BTIG Research from $100.00 to $105.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the medical instruments supplier's stock. BTIG Research's price target indicates a potential upside of 25.97% from the stock's current price.

MMSI has been the topic of a number of other research reports. Compass Point set a $107.00 price target on Merit Medical Systems in a report on Monday, April 20th. Robert W. Baird set a $83.00 target price on Merit Medical Systems in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on Merit Medical Systems from $95.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Weiss Ratings lowered Merit Medical Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 8th. Finally, Canaccord Genuity Group dropped their price target on Merit Medical Systems from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Merit Medical Systems currently has an average rating of "Moderate Buy" and a consensus price target of $92.78.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $83.35 on Friday. The stock has a 50 day simple moving average of $69.45 and a 200-day simple moving average of $71.69. Merit Medical Systems has a 12-month low of $59.74 and a 12-month high of $94.75. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 2.51 and a beta of 0.52. The company has a current ratio of 5.08, a quick ratio of 3.46 and a debt-to-equity ratio of 0.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.23. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The firm had revenue of $418.84 million during the quarter, compared to analysts' expectations of $405.25 million. During the same quarter in the prior year, the business posted $1.01 earnings per share. Merit Medical Systems's revenue was up 9.5% compared to the same quarter last year. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. On average, equities analysts forecast that Merit Medical Systems will post 3.62 EPS for the current year.

Insider Buying and Selling

In related news, insider Brian G. Lloyd acquired 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average cost of $62.62 per share, for a total transaction of $125,240.00. Following the transaction, the insider directly owned 2,000 shares of the company's stock, valued at approximately $125,240. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lynne N. Ward sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $62.61, for a total value of $313,050.00. Following the completion of the sale, the director directly owned 7,809 shares in the company, valued at approximately $488,921.49. The trade was a 39.04% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Merit Medical Systems in the fourth quarter valued at approximately $25,000. Maseco LLP acquired a new position in Merit Medical Systems in the fourth quarter valued at $26,000. Torren Management LLC purchased a new position in Merit Medical Systems during the fourth quarter worth about $38,000. Covestor Ltd grew its holdings in Merit Medical Systems by 252.6% in the 4th quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier's stock valued at $41,000 after buying an additional 336 shares during the period. Finally, Danske Bank A S purchased a new position in shares of Merit Medical Systems during the 3rd quarter worth about $42,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems News Roundup

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

• Positive Sentiment: Strong earnings and revenue beat: Second-quarter revenue rose 9.5% year over year to $418.8 million, surpassing the $405.3 million consensus estimate. Non-GAAP EPS increased 18% to $1.19, well above expectations of $0.96 and the year-ago result of $1.01. GAAP operating margin also improved to 14.4% from 12.3%. Merit Medical Reports Second Quarter 2026 Results And Updates Full-Year 2026 Guidance
• Positive Sentiment: Raised full-year guidance: Merit now expects fiscal 2026 adjusted EPS of $4.25 to $4.35, above the prior consensus estimate of $3.98. Revenue guidance remains approximately $1.6 billion, broadly in line with expectations, suggesting the primary upside is coming from earnings and margin performance. Merit Medical Raises 2026 Outlook on Strong Q2 Results
• Positive Sentiment: Analyst confidence increased: Following the earnings beat and guidance increase, multiple analysts maintained Buy ratings and raised their price targets, reinforcing expectations for continued earnings growth. Analysts Increase Forecasts on Merit Medical Systems After Strong Q2 Results
• Negative Sentiment: Cash generation softened: Year-to-date operating cash flow fell 11% to $110.0 million, while free cash flow declined 14% to $76.6 million. Investors may monitor whether this reflects temporary working-capital needs or a sustained pressure on cash conversion. Merit Medical Second-Quarter Results

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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