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

Merit Medical Systems, Inc. (NASDAQ:MMSI) reached a new 52-week low on Wednesday . The company traded as low as $73.87 and last traded at $74.85, with a volume of 525945 shares. The stock had previously closed at $76.50.

Wall Street Analyst Weigh In

MMSI has been the topic of a number of analyst reports. BTIG Research assumed coverage on Merit Medical Systems in a research note on Friday, February 6th. They set a “buy” rating and a $107.00 price objective on the stock. Piper Sandler decreased their price target on shares of Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Robert W. Baird set a $108.00 price objective on shares of Merit Medical Systems in a research report on Tuesday, December 16th. Barrington Research upped their price objective on shares of Merit Medical Systems from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, Zacks Research cut shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.33.

Merit Medical Systems Stock Performance

The company’s fifty day moving average price is $83.04 and its two-hundred day moving average price is $84.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.95 and a current ratio of 4.34. The firm has a market capitalization of $4.45 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62.

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, topping the consensus estimate of $0.96 by $0.08. The firm had revenue of $393.94 million during the quarter, compared to analyst estimates of $390.77 million. Merit Medical Systems had a net margin of 8.48% and a return on equity of 13.82%. Merit Medical Systems’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. As a group, equities analysts expect that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Institutional Investors Weigh In On Merit Medical Systems

Institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new position in shares of Merit Medical Systems in the 3rd quarter worth about $2,913,050,000. Wellington Management Group LLP increased its position in Merit Medical Systems by 377.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock worth $103,248,000 after purchasing an additional 980,823 shares in the last quarter. Norges Bank purchased a new position in Merit Medical Systems in the fourth quarter valued at approximately $75,957,000. Thrivent Financial for Lutherans lifted its position in Merit Medical Systems by 250.5% during the third quarter. Thrivent Financial for Lutherans now owns 750,066 shares of the medical instruments supplier’s stock valued at $62,428,000 after buying an additional 536,072 shares in the last quarter. Finally, Iron Triangle Partners LP purchased a new stake in Merit Medical Systems during the fourth quarter worth approximately $33,992,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

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.