Merit Medical Systems (NASDAQ:MMSI) Stock Rating Lowered by Wells Fargo & Company

Merit Medical Systems (NASDAQ:MMSI) was downgraded by research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $78.00 target price on the medical instruments supplier’s stock, down from their previous target price of $95.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 1.06% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 29th. Barrington Research boosted their target price on shares of Merit Medical Systems from $106.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday. Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Needham & Company LLC decreased their target price on shares of Merit Medical Systems from $108.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their price target on shares of Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.33.

Merit Medical Systems Stock Down 1.1%

Shares of NASDAQ:MMSI opened at $77.18 on Thursday. The business’s 50 day moving average is $83.52 and its 200 day moving average is $84.85. The stock has a market cap of $4.59 billion, a P/E ratio of 36.41, a price-to-earnings-growth ratio of 2.29 and a beta of 0.61. Merit Medical Systems has a 52-week low of $76.68 and a 52-week high of $107.27. The company has a quick ratio of 2.86, a current ratio of 4.34 and a debt-to-equity ratio of 0.46.

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

Institutional Investors Weigh In On Merit Medical Systems

A number of large investors have recently made changes to their positions in the stock. Corient Private Wealth LLC raised its stake in Merit Medical Systems by 99.4% in the 4th quarter. Corient Private Wealth LLC now owns 6,312 shares of the medical instruments supplier’s stock worth $557,000 after acquiring an additional 3,146 shares during the last quarter. Alberta Investment Management Corp purchased a new position in shares of Merit Medical Systems in the fourth quarter worth about $1,428,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Merit Medical Systems by 36.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,540 shares of the medical instruments supplier’s stock worth $312,000 after purchasing an additional 952 shares during the period. State of Tennessee Department of Treasury boosted its position in Merit Medical Systems by 10.4% in the fourth quarter. State of Tennessee Department of Treasury now owns 28,492 shares of the medical instruments supplier’s stock valued at $2,310,000 after buying an additional 2,689 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in Merit Medical Systems by 12.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,796 shares of the medical instruments supplier’s stock worth $183,137,000 after buying an additional 234,682 shares during the period. 99.66% of the stock is 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.