Merit Medical Systems (NASDAQ:MMSI) Stock Bumped Down to “Hold” by Zacks Research

Zacks Research lowered shares of Merit Medical Systems (NASDAQ:MMSI) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks reports.

A number of other equities research analysts have also recently weighed in on the company. Raymond James Financial restated an “outperform” rating and issued a $100.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. Barrington Research set a $114.00 price objective on Merit Medical Systems in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on Merit Medical Systems from $77.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, BTIG Research reiterated a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a research report on Tuesday, August 11th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $91.18 on Monday. The company has a current ratio of 4.20, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $88.30 and its two-hundred day moving average is $76.33. Merit Medical Systems has a 12-month low of $59.74 and a 12-month high of $94.75. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 2.25 and a beta of 0.51.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.23. The business had revenue of $418.84 million during the quarter, compared to the consensus estimate of $405.25 million. Merit Medical Systems had a return on equity of 13.75% and a net margin of 9.22%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. Research analysts expect that Merit Medical Systems will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC acquired a new stake in shares of Merit Medical Systems during the 2nd quarter worth $78,894,000. Irenic Capital Management LP purchased a new position in shares of Merit Medical Systems in the 2nd quarter worth $37,623,000. The Manufacturers Life Insurance Company acquired a new position in Merit Medical Systems in the second quarter valued at $33,591,000. Bank of New York Mellon Corp acquired a new position in Merit Medical Systems in the second quarter valued at $28,470,000. Finally, Fifth Third Bancorp boosted its holdings in Merit Medical Systems by 24,625.6% in the first quarter. Fifth Third Bancorp now owns 313,026 shares of the medical instruments supplier’s stock valued at $21,577,000 after acquiring an additional 311,760 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc is a medical device company that develops, manufactures and distributes disposable products used in interventional, diagnostic and therapeutic procedures. Its devices are designed for use by healthcare professionals in hospitals, outpatient facilities and other clinical settings.

The company’s product portfolio includes devices for vascular access, angiography, intervention, drainage, embolization, oncology and cardiac procedures. Merit also offers products used in peripheral intervention, spine procedures and other specialized areas of minimally invasive medicine, including kits, accessories and related procedural equipment.

Founded in 1987 and headquartered in South Jordan, Utah, Merit Medical serves healthcare providers through a global commercial and manufacturing network.