Martin & Co. Inc. TN Acquires Shares of 65,628 Merit Medical Systems, Inc. $MMSI

Martin & Co. Inc. TN acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, Holdings Channel reports. The fund acquired 65,628 shares of the medical instruments supplier’s stock, valued at approximately $4,551,000. Merit Medical Systems comprises about 0.7% of Martin & Co. Inc. TN’s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Merit Medical Systems by 1.5% in the fourth quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier’s stock valued at $196,645,000 after purchasing an additional 32,459 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Merit Medical Systems by 3.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock worth $149,407,000 after purchasing an additional 81,030 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position 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 purchasing an additional 234,682 shares in the last quarter. Wellington Management Group LLP increased its stake in Merit Medical Systems by 7.0% in the 4th quarter. Wellington Management Group LLP now owns 1,327,013 shares of the medical instruments supplier’s stock valued at $116,963,000 after buying an additional 86,504 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Merit Medical Systems by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,237,298 shares of the medical instruments supplier’s stock valued at $85,287,000 after buying an additional 12,285 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MMSI. 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 research note on Friday, July 31st. JPMorgan Chase & Co. increased their price target on Merit Medical Systems from $77.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. BTIG Research reiterated a “buy” rating and set a $105.00 price target on shares of Merit Medical Systems in a report on Tuesday, August 11th. Weiss Ratings upgraded Merit Medical Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Robert W. Baird set a $98.00 price objective on Merit Medical Systems in a research note on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $100.00.

Merit Medical Systems Stock Up 0.6%

MMSI opened at $90.78 on Friday. The company has a quick ratio of 2.79, a current ratio of 4.20 and a debt-to-equity ratio of 0.44. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 2.28 and a beta of 0.49. Merit Medical Systems, Inc. has a twelve month low of $59.74 and a twelve month high of $94.75. The company’s 50-day moving average price is $77.41 and its two-hundred day moving average price is $72.57.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly 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. The company had revenue of $418.84 million during the quarter, compared to analyst estimates of $405.25 million. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. Merit Medical Systems’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. As a group, equities analysts expect that Merit Medical Systems, Inc. will post 3.81 earnings per share for the current year.

Merit Medical Systems Company Profile

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.