Merit Medical Systems (NASDAQ:MMSI) Given New $90.00 Price Target at Canaccord Genuity Group

Merit Medical Systems (NASDAQ:MMSI) had its price objective decreased by analysts at Canaccord Genuity Group from $99.00 to $90.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 33.08% from the company’s current price.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Sunday. BTIG Research began coverage on shares of Merit Medical Systems in a research report on Friday, February 6th. They set a “buy” rating and a $107.00 target price for the company. Robert W. Baird set a $108.00 target price on shares of Merit Medical Systems in a research report on Tuesday, December 16th. Piper Sandler dropped their target price on shares of Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $101.00 target price on shares of Merit Medical Systems in a research report on Wednesday, April 1st. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $100.13.

Merit Medical Systems Trading Down 0.3%

Shares of MMSI stock traded down $0.18 during trading hours on Tuesday, hitting $67.63. 36,965 shares of the company were exchanged, compared to its average volume of 783,710. The firm has a market cap of $4.03 billion, a PE ratio of 32.01, a PEG ratio of 1.95 and a beta of 0.64. Merit Medical Systems has a 1 year low of $66.34 and a 1 year high of $100.19. The company has a quick ratio of 2.95, a current ratio of 4.34 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $75.13 and a 200 day moving average of $81.47.

Merit Medical Systems (NASDAQ:MMSI) last posted its 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. The firm had revenue of $393.94 million during the quarter, compared to the consensus estimate of $390.77 million. Merit Medical Systems had a net margin of 8.48% and a return on equity of 13.82%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter 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. Analysts expect that Merit Medical Systems will post 3.37 earnings per share for the current year.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in MMSI. Tudor Investment Corp ET AL purchased a new position in shares of Merit Medical Systems during the 3rd quarter valued at approximately $2,913,050,000. Wellington Management Group LLP boosted its stake in shares of 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 valued at $103,248,000 after buying an additional 980,823 shares during the last quarter. Norges Bank purchased a new position in shares of Merit Medical Systems during the 4th quarter valued at approximately $75,957,000. Thrivent Financial for Lutherans boosted its stake in shares of Merit Medical Systems by 250.5% during the 3rd 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 during the last quarter. Finally, Iron Triangle Partners LP purchased a new position in shares of Merit Medical Systems during the 4th quarter valued at approximately $33,992,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

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.