Merit Medical Systems (NASDAQ:MMSI) Reaches New 1-Year Low – Here’s Why

Merit Medical Systems, Inc. (NASDAQ:MMSI)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $67.17 and last traded at $67.4550, with a volume of 85674 shares changing hands. The stock had previously closed at $68.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler reduced their target price on shares of Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. BTIG Research assumed coverage on Merit Medical Systems in a research report on Friday, February 6th. They set a “buy” rating and a $107.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday, December 29th. Needham & Company LLC reduced their price target on Merit Medical Systems from $108.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Merit Medical Systems Price Performance

The business’s 50 day moving average is $78.58 and its two-hundred day moving average is $83.25. The firm has a market cap of $4.02 billion, a P/E ratio of 31.92, a P/E/G ratio of 1.98 and a beta of 0.62. The company has a quick ratio of 2.95, a current ratio of 4.34 and a debt-to-equity ratio of 0.46.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Tuesday, February 24th. The medical instruments supplier reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Merit Medical Systems had a net margin of 8.48% and a return on equity of 13.82%. The business had revenue of $393.94 million for the quarter, compared to analysts’ expectations of $390.77 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. As a group, analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors have recently added to or reduced their stakes in MMSI. Tudor Investment Corp ET AL bought a new stake in Merit Medical Systems in the 3rd quarter valued at about $2,913,050,000. Assenagon Asset Management S.A. acquired a new stake in Merit Medical Systems in the third quarter valued at approximately $1,644,000. Norges Bank bought a new stake in shares of Merit Medical Systems during the second quarter valued at approximately $53,697,000. Fort Washington Investment Advisors Inc. OH raised its position in shares of Merit Medical Systems by 69.7% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 301,718 shares of the medical instruments supplier’s stock worth $25,112,000 after purchasing an additional 123,912 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in shares of Merit Medical Systems by 11.9% during the second quarter. Westwood Holdings Group Inc. now owns 768,970 shares of the medical instruments supplier’s stock worth $71,883,000 after purchasing an additional 81,469 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.

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.