JPMorgan Chase & Co. Cuts Merit Medical Systems (NASDAQ:MMSI) Price Target to $77.00

Key Points

• JPMorgan cut its price target on Merit Medical from $95 to $77 while maintaining an "overweight" rating, implying roughly a 24% upside from the current price.
• Shares fell about 9.2% to $61.93 on heavy volume, trading near their one‑year low despite a consensus "Moderate Buy" rating and an average analyst target of $93.30.
• Company fundamentals were strong: Merit beat Q1 EPS and revenue estimates, raised FY2026 guidance to $4.01–$4.15, reported improved margins and free cash flow, and completed strategic M&A activity (View Point Medical acquisition).

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $95.00 to $77.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the medical instruments supplier's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 24.33% from the stock's current price.

A number of other equities research analysts have also weighed in on MMSI. Needham & Company LLC dropped their price target on Merit Medical Systems from $101.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday. Barrington Research lowered their target price on shares of Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating for the company in a research note on Monday, April 20th. Canaccord Genuity Group dropped their target price on shares of Merit Medical Systems from $99.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings restated a "hold (c)" rating on shares of Merit Medical Systems in a research note on Friday, March 27th. Finally, Wall Street Zen cut shares of Merit Medical Systems from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 5th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.30.

Merit Medical Systems Stock Down 9.2%

Shares of MMSI traded down $6.25 during midday trading on Friday, hitting $61.93. 1,394,982 shares of the company's stock traded hands, compared to its average volume of 762,160. Merit Medical Systems has a 1 year low of $61.79 and a 1 year high of $100.19. The firm's fifty day moving average is $70.68 and its 200-day moving average is $79.78. The company has a current ratio of 4.34, a quick ratio of 2.95 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 1.83 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Tuesday, February 24th. The medical instruments supplier reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $393.94 million for the quarter, compared to the consensus estimate of $390.77 million. During the same period in the previous year, the business earned $0.93 EPS. The firm's revenue for the quarter 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, sell-side analysts anticipate that Merit Medical Systems will post 3.61 earnings per share for the current year.

Hedge Funds Weigh In On Merit Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new stake in Merit Medical Systems during the 4th quarter valued at approximately $25,000. Maseco LLP acquired a new stake in shares of Merit Medical Systems in the fourth quarter worth $26,000. Salomon & Ludwin LLC purchased a new position in shares of Merit Medical Systems during the third quarter worth $37,000. Torren Management LLC purchased a new position in shares of Merit Medical Systems during the fourth quarter worth $38,000. Finally, Covestor Ltd lifted its position in Merit Medical Systems by 252.6% during the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier's stock valued at $41,000 after purchasing an additional 336 shares during the period. Institutional investors and hedge funds own 99.66% of the company's stock.

Merit Medical Systems News Summary

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

• Positive Sentiment: Q1 results beat expectations — Merit reported non‑GAAP EPS of $0.94 (vs. ~$0.84 est.) and revenue of $381.9M, up ~7% year‑over‑year, showing steady segment and geographic gains. The company also raised FY2026 EPS guidance to $4.010–$4.150, above consensus, which supports longer‑term earnings growth assumptions. Read More.
• Positive Sentiment: Margins and cash flow improved — Non‑GAAP operating margin expanded slightly to ~19.7% and free cash flow rose to $24.7M (+26%), evidence that core profitability and cash generation are intact. These metrics underpin the company’s ability to fund M&A and shareholder returns. Read More.
• Neutral Sentiment: Strategic M&A and divestiture activity — Merit acquired View Point Medical for $140M (≈$90M cash at close) and sold DualCap® assets for $28M (≈$25.5M cash). These moves expand imaging/marker capabilities but also change near‑term cash/earnings mix. Read More.
• Neutral Sentiment: Management commentary available — Earnings call transcripts provide color on demand trends, product categories (reorganized into Foundational vs. Therapeutic), and geographic performance for investors doing deeper due diligence. Read More.
• Negative Sentiment: Analyst price‑target trims and multiple pressure — Wells Fargo cut its PT to $74 and moved to Equal Weight; Needham trimmed its PT to $90 while keeping Buy, citing sector multiple compression. Those moves reduce headline upside and likely contributed to intraday selling. Read More. Read More.

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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