Xponance Inc. Increases Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Xponance Inc. lifted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,621 shares of the medical instruments supplier’s stock after purchasing an additional 170 shares during the period. Xponance Inc.’s holdings in Merit Medical Systems were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MMSI. Congress Asset Management Co. MA increased its stake in shares of Merit Medical Systems by 4,411.3% in the 1st quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after purchasing an additional 506,992 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Merit Medical Systems by 818.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock valued at $21,151,000 after purchasing an additional 248,140 shares in the last quarter. F M Investments LLC purchased a new position in shares of Merit Medical Systems in the 2nd quarter valued at about $12,550,000. Westwood Holdings Group Inc. increased its stake in shares of Merit Medical Systems by 17.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after purchasing an additional 131,977 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in shares of Merit Medical Systems by 3.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock valued at $193,419,000 after purchasing an additional 75,885 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Barrington Research lifted their price objective on Merit Medical Systems from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price objective on shares of Merit Medical Systems in a report on Monday, September 16th. Finally, Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.82.

Merit Medical Systems Trading Down 1.2 %

Shares of Merit Medical Systems stock opened at $97.61 on Wednesday. The stock has a market cap of $5.67 billion, a P/E ratio of 56.10, a P/E/G ratio of 2.52 and a beta of 0.87. The stock’s 50 day simple moving average is $93.24 and its 200-day simple moving average is $84.26. Merit Medical Systems, Inc. has a 1-year low of $62.58 and a 1-year high of $101.60. 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 (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The firm had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. Analysts predict that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

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.