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

Congress Asset Management Co. increased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,260,675 shares of the medical instruments supplier’s stock after buying an additional 76,338 shares during the quarter. Congress Asset Management Co. owned about 2.11% of Merit Medical Systems worth $108,708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kilter Group LLC purchased a new position in shares of Merit Medical Systems during the second quarter worth $25,000. Harbor Investment Advisory LLC purchased a new stake in Merit Medical Systems in the second quarter valued at $50,000. State of Wyoming purchased a new stake in Merit Medical Systems in the second quarter valued at $79,000. Globeflex Capital L P acquired a new stake in Merit Medical Systems during the 2nd quarter worth about $87,000. Finally, Palouse Capital Management Inc. grew its position in Merit Medical Systems by 29.8% during the 1st quarter. Palouse Capital Management Inc. now owns 1,315 shares of the medical instruments supplier’s stock worth $91,000 after purchasing an additional 302 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Price Performance

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

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share 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 business had revenue of $418.84 million during the quarter, compared to the consensus estimate of $405.25 million. During the same period in the prior year, the company posted $1.01 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. On average, equities research analysts forecast that Merit Medical Systems, Inc. will post 3.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $101.00 price objective on shares of Merit Medical Systems in a report on Tuesday, September 29th. Piper Sandler lifted their price target on Merit Medical Systems from $96.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. boosted their price target on Merit Medical Systems from $77.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Robert W. Baird set a $98.00 target price on shares of Merit Medical Systems in a report on Friday, July 31st. Finally, Zacks Research upgraded shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems 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.