Merit Medical Systems (NASDAQ:MMSI) Given New $85.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity cut its price target to $85 (from $90) but maintained a "buy" rating, while the analyst consensus remains a Moderate Buy with an average target of $92.80.
• Shares fell about 9% to $62.01 on heavy volume despite Merit beating Q1 revenue and EPS estimates and raising FY2026 EPS guidance to $4.01–$4.15.
• Operationally the company showed strength—non‑GAAP operating margin ~19.7% and free cash flow up ~26%—and completed the View Point Medical acquisition to bolster higher‑margin offerings.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) had its target price decreased by analysts at Canaccord Genuity Group from $90.00 to $85.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the medical instruments supplier's stock. Canaccord Genuity Group's price objective would suggest a potential upside of 37.07% from the stock's previous close.

A number of other brokerages have also recently commented on MMSI. Wells Fargo & Company cut their price target on shares of Merit Medical Systems from $78.00 to $74.00 and set an "equal weight" rating for the company in a research note on Friday. Citigroup reiterated an "outperform" rating on shares of Merit Medical Systems in a report on Monday, April 20th. Robert W. Baird set a $83.00 price target on Merit Medical Systems in a report on Friday. Barrington Research reduced their price target on Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating for the company in a report on Monday, April 20th. Finally, Piper Sandler reduced their price target on Merit Medical Systems from $106.00 to $96.00 and set an "overweight" rating for the company in a report on Friday, April 17th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.80.

Merit Medical Systems Stock Down 9.0%

Shares of Merit Medical Systems stock traded down $6.17 on Friday, reaching $62.01. 2,526,188 shares of the company were exchanged, compared to its average volume of 777,070. Merit Medical Systems has a one year low of $61.31 and a one year high of $100.19. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 1.83 and a beta of 0.64. 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 company has a 50-day moving average of $70.68 and a 200 day moving average of $79.78.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The medical instruments supplier reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.08. The company had revenue of $393.94 million for the quarter, compared to analysts' expectations of $390.77 million. Merit Medical Systems had a return on equity of 13.82% and a net margin of 8.48%.The business's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. On average, equities research analysts forecast that Merit Medical Systems will post 3.61 earnings per share for the current year.

Hedge Funds Weigh In On Merit Medical Systems

Large investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new stake in Merit Medical Systems during the third quarter worth approximately $2,913,050,000. State Street Corp lifted its position in Merit Medical Systems by 1.5% during the fourth quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier's stock worth $196,645,000 after acquiring an additional 32,459 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in Merit Medical Systems by 3.9% during the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier's stock worth $149,407,000 after acquiring an additional 81,030 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Merit Medical Systems by 12.7% during 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 acquiring an additional 234,682 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Merit Medical Systems by 7.0% in the 4th quarter. Wellington Management Group LLP now owns 1,327,013 shares of the medical instruments supplier's stock valued at $116,963,000 after purchasing an additional 86,504 shares during the period. 99.66% of the stock is owned by institutional investors.

Key Merit Medical Systems News

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

• Positive Sentiment: Q1 results beat and management raised guidance — Merit reported Q1 non‑GAAP EPS of $0.94 (vs. $0.84 est.) and revenue of ~$382M (beat). The company lifted FY2026 EPS guidance to $4.01–$4.15 and reiterated revenue targets, pointing to steady segment/geographic gains and improved margins and free cash flow. Press Release
• Positive Sentiment: Operational highlights support durable cash generation — Management reported GAAP operating margin ~11.6%, non‑GAAP operating margin ~19.7%, and free cash flow up ~26%. These metrics support the company’s cash‑flow story and capital deployment (recent acquisition activity). Details
• Positive Sentiment: Acquisition expands product set — Merit closed the View Point Medical acquisition (OneMark detection/tissue marker products) for $140M (cash portion $90M), and divested the DualCap line for $28M; these moves can bolster higher‑margin therapeutic offerings. Transaction Details
• Neutral Sentiment: Earnings call / transcripts available — Call transcripts and highlights confirm beat and management commentary on organic growth, mix, and margin drivers; useful for investors who want management color. Earnings Call Transcript
• Negative Sentiment: Analysts trimmed price targets — Several firms cut PTs today (JPMorgan: $95→$77, Wells Fargo: $78→$74, Needham: $101→$90). Although ratings were maintained (overweight/equal weight/buy), the cuts reflect multiple‑compression or sector re‑rating concerns and likely contributed to selling pressure. Analyst Notes (Benzinga)
• Negative Sentiment: Market reaction driven by valuation vs. growth — Despite beats, some analysts flagged growth deceleration and applied lower sector multiples; with the stock already well off its 52‑week high, target trims can trigger headline-driven outflows. Analyst Commentary

Merit Medical Systems Company Profile

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.

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.