Merit Medical Systems, Inc. $MMSI Position Increased by Greenhouse Funds LLLP

Greenhouse Funds LLLP grew its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 48.3% during the third quarter, Holdings Channel reports. The firm owned 871,927 shares of the medical instruments supplier’s stock after acquiring an additional 284,015 shares during the quarter. Merit Medical Systems comprises 2.7% of Greenhouse Funds LLLP’s portfolio, making the stock its 20th largest holding. Greenhouse Funds LLLP’s holdings in Merit Medical Systems were worth $72,570,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in shares of Merit Medical Systems during the third quarter valued at $1,644,000. Norges Bank bought a new stake in Merit Medical Systems in the 2nd quarter valued at about $53,697,000. Fort Washington Investment Advisors Inc. OH lifted its position in Merit Medical Systems by 69.7% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 301,718 shares of the medical instruments supplier’s stock valued at $25,112,000 after purchasing an additional 123,912 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Merit Medical Systems by 11.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 768,970 shares of the medical instruments supplier’s stock valued at $71,883,000 after purchasing an additional 81,469 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Merit Medical Systems by 250.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 750,066 shares of the medical instruments supplier’s stock worth $62,428,000 after purchasing an additional 536,072 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Robert W. Baird set a $108.00 price objective on Merit Medical Systems in a research report on Tuesday, December 16th. Zacks Research downgraded Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Piper Sandler decreased their price target on Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Wells Fargo & Company lowered Merit Medical Systems from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $95.00 to $78.00 in a report on Thursday, February 26th. Finally, Barrington Research lifted their price objective on shares of Merit Medical Systems from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Merit Medical Systems Stock Up 0.5%

Shares of MMSI stock opened at $70.08 on Thursday. Merit Medical Systems, Inc. has a 1 year low of $68.44 and a 1 year high of $107.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.95 and a current ratio of 4.34. The business’s fifty day moving average is $81.14 and its 200-day moving average is $84.08. The stock has a market cap of $4.16 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 2.02 and a beta of 0.62.

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

Merit Medical Systems 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.