Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC raised its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,289,148 shares of the medical instruments supplier's stock after buying an additional 38,780 shares during the period. Merit Medical Systems accounts for approximately 3.1% of Conestoga Capital Advisors LLC's portfolio, making the stock its 11th biggest holding. Conestoga Capital Advisors LLC owned 3.94% of Merit Medical Systems worth $226,236,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MMSI. Norden Group LLC acquired a new stake in Merit Medical Systems in the 1st quarter valued at about $293,000. Sequoia Financial Advisors LLC bought a new stake in shares of Merit Medical Systems in the 1st quarter valued at $336,000. BNP Paribas Financial Markets lifted its holdings in shares of Merit Medical Systems by 55.3% during the 1st quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier's stock valued at $4,011,000 after purchasing an additional 18,863 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Merit Medical Systems in the first quarter valued at approximately $90,000. Finally, FORA Capital LLC bought a new position in Merit Medical Systems during the 1st quarter worth about $577,000. 99.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Bank of America increased their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Piper Sandler reissued an "overweight" rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. StockNews.com raised Merit Medical Systems from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Wells Fargo & Company increased their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the company an "equal weight" rating in a report on Monday, September 16th. Finally, Barrington Research restated an "outperform" rating and issued a $114.00 price target on shares of Merit Medical Systems in a research report on Thursday. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Merit Medical Systems has a consensus rating of "Moderate Buy" and a consensus target price of $103.36.

Merit Medical Systems Stock Up 0.1 %

Merit Medical Systems stock traded up $0.14 during midday trading on Friday, reaching $98.80. The company's stock had a trading volume of 392,722 shares, compared to its average volume of 437,975. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. Merit Medical Systems, Inc. has a 52-week low of $65.46 and a 52-week high of $101.60. The stock has a market capitalization of $5.75 billion, a P/E ratio of 48.78, a PEG ratio of 2.39 and a beta of 0.87. The stock's 50-day simple moving average is $96.49 and its 200-day simple moving average is $87.70.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. The company had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.86%. The firm's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. On average, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.3 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.