Congress Asset Management Co. Buys 184,738 Shares of Merit Medical Systems, Inc. $MMSI

Congress Asset Management Co. boosted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 857,639 shares of the medical instruments supplier’s stock after acquiring an additional 184,738 shares during the quarter. Congress Asset Management Co. owned 1.45% of Merit Medical Systems worth $75,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in shares of Merit Medical Systems in the 3rd quarter worth about $37,000. Danske Bank A S bought a new position in Merit Medical Systems during the 3rd quarter valued at about $42,000. Quarry LP boosted its position in Merit Medical Systems by 185.9% in the third quarter. Quarry LP now owns 526 shares of the medical instruments supplier’s stock valued at $44,000 after buying an additional 342 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Merit Medical Systems by 745.9% in the second quarter. EverSource Wealth Advisors LLC now owns 922 shares of the medical instruments supplier’s stock valued at $86,000 after buying an additional 813 shares in the last quarter. Finally, First Horizon Corp bought a new stake in Merit Medical Systems during the third quarter worth about $78,000. 99.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Needham & Company LLC cut 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 note on Wednesday, February 25th. Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday, December 29th. Wells Fargo & Company downgraded Merit Medical Systems from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $95.00 to $78.00 in a research report on Thursday, February 26th. Canaccord Genuity Group boosted their price objective on Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Piper Sandler decreased their target price on Merit Medical Systems from $113.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Merit Medical Systems Price Performance

MMSI opened at $68.13 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.34 and a quick ratio of 2.95. The stock has a market capitalization of $4.05 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 1.92 and a beta of 0.62. The company’s 50 day simple moving average is $77.89 and its 200-day simple moving average is $82.82. Merit Medical Systems, Inc. has a one year low of $66.49 and a one year high of $107.27.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data 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. The firm had revenue of $393.94 million during the quarter, compared to analysts’ expectations of $390.77 million. Merit Medical Systems had a net margin of 8.48% and a return on equity of 13.82%. Merit Medical Systems’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

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.