Congress Asset Management Co. Buys 15,534 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Congress Asset Management Co. increased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 589,976 shares of the medical instruments supplier's stock after buying an additional 15,534 shares during the quarter. Congress Asset Management Co. owned about 1.02% of Merit Medical Systems worth $58,307,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Smith Group Asset Management LLC acquired a new position in shares of Merit Medical Systems in the third quarter worth $550,000. Wealth Enhancement Advisory Services LLC acquired a new position in Merit Medical Systems in the third quarter valued at $325,000. CWC Advisors LLC. acquired a new position in Merit Medical Systems in the third quarter valued at $437,000. Silver Oak Securities Incorporated acquired a new position in Merit Medical Systems in the third quarter valued at $405,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Merit Medical Systems in the third quarter valued at about $309,000. Hedge funds and other institutional investors own 99.66% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on MMSI shares. Piper Sandler reissued an "overweight" rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Barrington Research restated an "outperform" rating and set a $114.00 target price on shares of Merit Medical Systems in a research report on Thursday. StockNews.com raised shares of Merit Medical Systems from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Needham & Company LLC reissued a "buy" rating and issued a $109.00 target price on shares of Merit Medical Systems in a research note on Thursday. Finally, Bank of America lifted their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a "neutral" rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.36.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI traded up $3.76 during trading hours on Thursday, hitting $98.66. 915,721 shares of the stock were exchanged, compared to its average volume of 438,189. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. The company's 50 day moving average is $96.36 and its 200 day moving average is $87.63. The firm has a market capitalization of $5.73 billion, a P/E ratio of 57.10, a P/E/G ratio of 2.41 and a beta of 0.87. Merit Medical Systems, Inc. has a one year low of $65.46 and a one year high of $101.60.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. The firm had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. On average, research analysts expect that Merit Medical Systems, Inc. will post 3.31 EPS for the current year.

Merit Medical Systems 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.