Merit Medical Systems (NASDAQ:MMSI) Price Target Raised to $97.00

Merit Medical Systems (NASDAQ:MMSI) had its price objective hoisted by Bank of America from $92.00 to $97.00 in a report issued on Thursday morning,Benzinga reports. Bank of America currently has a neutral rating on the medical instruments supplier’s stock.

A number of other analysts have also recently weighed in on the company. Citigroup reissued an “outperform” rating on shares of Merit Medical Systems in a research report on Monday, April 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $100.00 target price on shares of Merit Medical Systems in a research report on Friday, July 31st. JPMorgan Chase & Co. increased their price target on Merit Medical Systems from $77.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings raised Merit Medical Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Finally, Robert W. Baird set a $98.00 price target on Merit Medical Systems in a research note on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Merit Medical Systems Trading Up 0.3%

NASDAQ MMSI opened at $90.76 on Thursday. Merit Medical Systems has a 52 week low of $59.74 and a 52 week high of $94.75. The company has a 50 day moving average price of $75.05 and a 200 day moving average price of $72.25. The company has a quick ratio of 2.79, a current ratio of 4.20 and a debt-to-equity ratio of 0.44. The firm has a market cap of $5.42 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 2.28 and a beta of 0.49.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.23. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The company had revenue of $418.84 million during the quarter, compared to the consensus estimate of $405.25 million. During the same period last year, the firm earned $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. As a group, sell-side analysts forecast that Merit Medical Systems will post 3.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Lido Advisors LLC boosted its holdings in Merit Medical Systems by 3.8% in the fourth quarter. Lido Advisors LLC now owns 3,836 shares of the medical instruments supplier’s stock valued at $324,000 after purchasing an additional 140 shares during the last quarter. AMI Asset Management Corp grew its position in Merit Medical Systems by 0.8% during the 1st quarter. AMI Asset Management Corp now owns 21,818 shares of the medical instruments supplier’s stock worth $1,504,000 after purchasing an additional 168 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of Merit Medical Systems by 2.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 8,693 shares of the medical instruments supplier’s stock valued at $766,000 after buying an additional 180 shares during the last quarter. First Horizon Corp raised its stake in shares of Merit Medical Systems by 19.7% during the 4th quarter. First Horizon Corp now owns 1,117 shares of the medical instruments supplier’s stock valued at $98,000 after buying an additional 184 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Merit Medical Systems by 0.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 50,667 shares of the medical instruments supplier’s stock valued at $4,095,000 after buying an additional 189 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

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.