Merit Medical Systems (NASDAQ:MMSI) Reaches New 12-Month Low Following Analyst Downgrade

Key Points

• Stock hit a new 52-week low after Canaccord cut its price target from $90 to $85; the shares traded as low as $61.31 (last $61.89) and were down about 8.9% on heavy volume, even as the consensus rating remains a "Moderate Buy" (8 Buys, 3 Holds) with an average target of $92.80.
• Fundamentals and guidance: Merit beat Q1 estimates with $0.94 EPS vs. $0.84 expected and $381.9M revenue, and set FY2026 guidance of $4.01–$4.15 EPS (analysts expect ~3.61 for the current year); the company has a $3.7B market cap, P/E ~27, and strong liquidity (current ratio 5.08).

Merit Medical Systems, Inc. (NASDAQ:MMSI - Get Free Report) reached a new 52-week low on Monday after Canaccord Genuity Group lowered their price target on the stock from $90.00 to $85.00. Canaccord Genuity Group currently has a buy rating on the stock. Merit Medical Systems traded as low as $61.31 and last traded at $61.89, with a volume of 2526188 shares. The stock had previously closed at $62.01.

Several other equities research analysts also recently issued reports on the company. BTIG Research initiated coverage on Merit Medical Systems in a report on Friday, February 6th. They set a "buy" rating and a $107.00 price objective on the stock. Citigroup reiterated an "outperform" rating on shares of Merit Medical Systems in a research note on Monday, April 20th. Robert W. Baird set a $83.00 price target on shares of Merit Medical Systems in a research report on Friday. JPMorgan Chase & Co. cut their price target on shares of Merit Medical Systems from $95.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Barrington Research reduced their price objective on shares of Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating on the stock in a research note on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Merit Medical Systems presently has an average rating of "Moderate Buy" and a consensus price target of $92.80.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in Merit Medical Systems in the fourth quarter worth $25,000. Maseco LLP acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth $26,000. Salomon & Ludwin LLC bought a new position in shares of Merit Medical Systems in the 3rd quarter worth about $37,000. Torren Management LLC bought a new position in shares of Merit Medical Systems in the 4th quarter worth about $38,000. Finally, Covestor Ltd boosted its holdings in shares of 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. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Trading Down 8.9%

The firm has a market cap of $3.70 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.75 and a beta of 0.58. The business's 50-day moving average is $70.68 and its two-hundred day moving average is $79.78. 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 issued its earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.10. The company had revenue of $381.88 million during the quarter, compared to the consensus estimate of $377.59 million. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.Merit Medical Systems's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. As a group, analysts expect that Merit Medical Systems, Inc. will post 3.61 earnings per share for the current fiscal year.

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.