Merit Medical Systems, Inc. $MMSI Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 6.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,260,675 shares of the medical instruments supplier’s stock after acquiring an additional 76,338 shares during the quarter. Congress Asset Management Co.’s holdings in Merit Medical Systems were worth $108,708,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jupiter Topco LLC purchased a new position in shares of Merit Medical Systems in the second quarter valued at approximately $1,908,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Merit Medical Systems by 11.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,854 shares of the medical instruments supplier’s stock valued at $12,055,000 after purchasing an additional 18,276 shares during the last quarter. Trillium Asset Management LLC purchased a new position in Merit Medical Systems in the 2nd quarter valued at $6,105,000. Irenic Capital Management LP acquired a new stake in Merit Medical Systems during the 2nd quarter worth $37,623,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Merit Medical Systems by 200.3% during the first quarter. Quantinno Capital Management LP now owns 17,612 shares of the medical instruments supplier’s stock worth $1,214,000 after buying an additional 11,747 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems Trading Down 2.5%

Shares of MMSI stock traded down $2.18 during trading on Tuesday, hitting $84.96. 587,657 shares of the stock traded hands, compared to its average volume of 798,373. Merit Medical Systems, Inc. has a 52-week low of $59.74 and a 52-week high of $94.75. The firm has a market capitalization of $5.07 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.13 and a beta of 0.51. The firm’s fifty day moving average price is $87.83 and its 200-day moving average price is $74.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79.

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

Analyst Ratings Changes

A number of research firms recently weighed in on MMSI. Zacks Research upgraded shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 25th. Piper Sandler boosted their target price on Merit Medical Systems from $96.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Barrington Research set a $114.00 price target on Merit Medical Systems in a report on Friday, July 31st. Needham & Company LLC reissued a “buy” rating and set a $101.00 price objective on shares of Merit Medical Systems in a research note on Tuesday, September 29th. Finally, Robert W. Baird set a $98.00 target price on Merit Medical Systems in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a medical device company that develops, manufactures and markets disposable products used in interventional, diagnostic and therapeutic procedures. Its devices are designed for use by healthcare professionals in areas including cardiology, radiology, oncology, vascular intervention, gastroenterology and other specialty fields.

The company’s product portfolio includes devices for accessing the vasculature, controlling and managing fluids, performing biopsies, treating peripheral vascular disease, delivering embolic therapies, and supporting drainage and intervention procedures.