Needham & Company LLC Cuts Merit Medical Systems (NASDAQ:MMSI) Price Target to $101.00

Merit Medical Systems (NASDAQ:MMSI) had its target price cut by Needham & Company LLC from $108.00 to $101.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other research analysts have also recently issued reports on MMSI. BTIG Research started coverage on shares of Merit Medical Systems in a report on Friday, February 6th. They issued 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. Piper Sandler dropped their price objective on shares of Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Barrington Research reissued an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a research report on Friday, November 14th. Finally, Zacks Research downgraded Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.33.

Merit Medical Systems Stock Down 1.1%

Merit Medical Systems stock opened at $77.18 on Wednesday. The stock has a 50 day moving average of $83.52 and a two-hundred day moving average of $84.85. Merit Medical Systems has a twelve month low of $76.68 and a twelve month high of $107.27. The company has a current ratio of 4.34, a quick ratio of 2.86 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 2.29 and a beta of 0.61.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results 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. 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 analyst estimates of $390.77 million. During the same period in the previous year, the business posted $0.93 earnings per share. The business’s 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, research analysts expect that Merit Medical Systems will post 3.37 earnings per share for the current year.

Institutional Trading of Merit Medical Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL bought a new position in shares of Merit Medical Systems during the third quarter worth about $2,913,050,000. State Street Corp grew its holdings in Merit Medical Systems by 1.5% in the 4th quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier’s stock worth $196,645,000 after buying an additional 32,459 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Merit Medical Systems by 12.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,796 shares of the medical instruments supplier’s stock valued at $183,137,000 after acquiring an additional 234,682 shares during the period. Geode Capital Management LLC grew its stake in shares of Merit Medical Systems by 2.8% in the second quarter. Geode Capital Management LLC now owns 1,437,397 shares of the medical instruments supplier’s stock worth $134,384,000 after purchasing an additional 39,620 shares in the last quarter. Finally, Maverick Capital Ltd. raised its stake in shares of Merit Medical Systems by 8.4% during the second quarter. Maverick Capital Ltd. now owns 1,379,408 shares of the medical instruments supplier’s stock valued at $128,947,000 after purchasing an additional 106,897 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

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.