Merit Medical Systems (NASDAQ:MMSI) Price Target Cut to $90.00 by Analysts at Canaccord Genuity Group

Merit Medical Systems (NASDAQ:MMSI) had its price objective lowered by Canaccord Genuity Group from $99.00 to $90.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

A number of other research firms have also commented on MMSI. Piper Sandler decreased their price target on Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Needham & Company LLC restated a “buy” rating and set a $101.00 price target on shares of Merit Medical Systems in a research report on Wednesday, April 1st. Wall Street Zen lowered Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Wells Fargo & Company lowered Merit Medical Systems from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $95.00 to $78.00 in a research report on Thursday, February 26th. Finally, BTIG Research initiated coverage on Merit Medical Systems in a research report on Friday, February 6th. They issued a “buy” rating and a $107.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $100.13.

Merit Medical Systems Stock Down 0.6%

NASDAQ MMSI opened at $67.40 on Tuesday. The firm has a market cap of $4.02 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 1.95 and a beta of 0.64. Merit Medical Systems has a one year low of $66.34 and a one year high of $100.19. The stock’s 50 day simple moving average is $74.83 and its 200 day simple moving average is $81.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.34 and a quick ratio of 2.95.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MMSI. Tudor Investment Corp ET AL bought a new position in Merit Medical Systems in the 3rd quarter valued at $2,913,050,000. Wellington Management Group LLP boosted its position in Merit Medical Systems by 377.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock valued at $103,248,000 after buying an additional 980,823 shares during the last quarter. Norges Bank bought a new position in shares of Merit Medical Systems in the 4th quarter worth $75,957,000. Thrivent Financial for Lutherans boosted its position in shares of Merit Medical Systems by 250.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 750,066 shares of the medical instruments supplier’s stock worth $62,428,000 after purchasing an additional 536,072 shares during the last quarter. Finally, Iron Triangle Partners LP bought a new position in shares of Merit Medical Systems in the 4th quarter worth $33,992,000. 99.66% of the stock is currently owned by institutional investors.

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.