Merit Medical Systems (NASDAQ:MMSI) Price Target Cut to $85.00 by Analysts at Canaccord Genuity Group

Merit Medical Systems (NASDAQ:MMSI) had its price target lowered by Canaccord Genuity Group from $90.00 to $85.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Several other research firms also recently weighed in on MMSI. Wall Street Zen downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 5th. JPMorgan Chase & Co. dropped their price objective on shares of Merit Medical Systems from $95.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday. Citigroup reissued an “outperform” rating on shares of Merit Medical Systems in a research note on Monday, April 20th. BTIG Research initiated coverage on shares of Merit Medical Systems in a research note on Friday, February 6th. They set a “buy” rating and a $107.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Merit Medical Systems from $78.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $92.80.

Merit Medical Systems Stock Down 9.0%

MMSI traded down $6.17 during midday trading on Friday, reaching $62.01. The company’s stock had a trading volume of 2,526,188 shares, compared to its average volume of 579,377. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 1.93 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. Merit Medical Systems has a 1 year low of $61.31 and a 1 year high of $100.19. The stock’s 50-day moving average is $70.68 and its 200-day moving average is $79.78.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. Merit Medical Systems had a net margin of 9.03% and a return on equity of 13.74%. The company had revenue of $381.88 million during the quarter, compared to analyst estimates of $377.59 million. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. 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 3.61 EPS for the current year.

Institutional Trading of Merit Medical Systems

Hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in Merit Medical Systems during the fourth quarter worth $25,000. Maseco LLP acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $26,000. Torren Management LLC acquired a new stake in Merit Medical Systems during the fourth quarter worth about $38,000. Salomon & Ludwin LLC acquired a new stake in Merit Medical Systems during the third quarter worth about $37,000. Finally, Covestor Ltd increased its position in Merit Medical Systems by 252.6% during the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier’s stock worth $41,000 after purchasing an additional 336 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems News Summary

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.