Impax Asset Management Group plc Invests $11.86 Million in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Impax Asset Management Group plc purchased a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 120,000 shares of the medical instruments supplier's stock, valued at approximately $11,860,000. Impax Asset Management Group plc owned about 0.21% of Merit Medical Systems as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems in the 2nd quarter worth about $29,000. DekaBank Deutsche Girozentrale purchased a new stake in Merit Medical Systems in the first quarter worth about $44,000. Headlands Technologies LLC purchased a new position in shares of Merit Medical Systems during the 1st quarter worth approximately $50,000. USA Financial Formulas bought a new position in shares of Merit Medical Systems in the 3rd quarter worth approximately $59,000. Finally, EntryPoint Capital LLC lifted its stake in shares of Merit Medical Systems by 2,666.7% in the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier's stock valued at $69,000 after purchasing an additional 880 shares during the period. Hedge funds and other institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

Merit Medical Systems stock traded up $3.69 during midday trading on Wednesday, reaching $102.48. 707,982 shares of the company traded hands, compared to its average volume of 440,665. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $102.53. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The business has a 50 day moving average of $96.82 and a two-hundred day moving average of $88.50.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business had revenue of $339.85 million for the quarter, compared to analysts' expectations of $334.60 million. During the same period last year, the firm posted $0.75 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts predict that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MMSI. Wells Fargo & Company raised their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the company an "equal weight" rating in a research report on Monday, September 16th. Robert W. Baird increased their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $109.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Barrington Research reissued an "outperform" rating and set a $114.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Merit Medical Systems has a consensus rating of "Moderate Buy" and an average target price of $103.36.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.