Algert Global LLC Acquires 23,270 Shares of Merit Medical Systems, Inc. $MMSI

Algert Global LLC boosted its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 119.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,710 shares of the medical instruments supplier's stock after buying an additional 23,270 shares during the quarter. Algert Global LLC owned approximately 0.07% of Merit Medical Systems worth $2,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MMSI. State Street Corp raised its holdings in Merit Medical Systems by 1.5% in the 4th quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier's stock worth $196,645,000 after purchasing an additional 32,459 shares during the period. Conestoga Capital Advisors LLC grew its holdings in Merit Medical Systems by 3.9% during the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier's stock valued at $149,407,000 after purchasing an additional 81,030 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Merit Medical Systems by 12.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,796 shares of the medical instruments supplier's stock valued at $183,137,000 after purchasing an additional 234,682 shares during the period. Wellington Management Group LLP increased its position in Merit Medical Systems by 7.0% in the fourth quarter. Wellington Management Group LLP now owns 1,327,013 shares of the medical instruments supplier's stock worth $116,963,000 after buying an additional 86,504 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Merit Medical Systems by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,237,298 shares of the medical instruments supplier's stock worth $85,287,000 after buying an additional 12,285 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Merit Medical Systems from $96.00 to $106.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Needham & Company LLC increased their target price on shares of Merit Medical Systems from $90.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Merit Medical Systems from $77.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Bank of America lifted their price target on shares of Merit Medical Systems from $92.00 to $97.00 and gave the company a "neutral" rating in a report on Thursday, August 13th. Finally, Robert W. Baird set a $98.00 price objective on shares of Merit Medical Systems in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $100.00.

Merit Medical Systems Trading Up 1.1%

Shares of MMSI stock opened at $90.49 on Friday. The company has a market cap of $5.40 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.23 and a beta of 0.49. Merit Medical Systems, Inc. has a 1 year low of $59.74 and a 1 year high of $94.75. The stock's 50 day simple moving average is $79.77 and its two-hundred day simple moving average is $72.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.23. Merit Medical Systems had a return on equity of 13.75% and a net margin of 9.22%.The firm had revenue of $418.84 million during the quarter, compared to analysts' expectations of $405.25 million. During the same quarter in the previous year, the business earned $1.01 EPS. The company's quarterly revenue was up 9.5% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. Research analysts predict that Merit Medical Systems, Inc. will post 3.84 earnings per share for the current year.

About Merit Medical Systems

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company's product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.

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