Congress Asset Management Co. Has $58.31 Million Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Congress Asset Management Co. increased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.7% during the 3rd quarter, Holdings Channel reports. The fund 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.’s holdings in Merit Medical Systems were worth $58,307,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC boosted its position in shares of Merit Medical Systems by 0.3% during the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock worth $262,445,000 after purchasing an additional 10,512 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Merit Medical Systems by 3.5% during the second quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock worth $193,419,000 after acquiring an additional 75,885 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Merit Medical Systems by 17.6% in the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after acquiring an additional 131,977 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock valued at $63,543,000 after acquiring an additional 22,077 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of Merit Medical Systems by 147.2% in the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock worth $54,545,000 after acquiring an additional 377,851 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a research report on Thursday. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird boosted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday. Bank of America increased their target price on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.36.

Merit Medical Systems Stock Up 4.3 %

MMSI stock traded up $4.07 during mid-day trading on Thursday, reaching $98.97. The company had a trading volume of 149,524 shares, compared to its average volume of 434,558. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 57.10, a PEG ratio of 2.41 and a beta of 0.87. Merit Medical Systems, Inc. has a 52 week low of $65.46 and a 52 week high of $101.60. The stock has a 50 day simple moving average of $96.36 and a two-hundred day simple moving average of $87.63. 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 earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. During the same period last year, the business earned $0.75 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts predict that Merit Medical Systems, Inc. will post 3.31 earnings per share 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.