Conestoga Capital Advisors LLC Has $149.41 Million Stock Position in Merit Medical Systems, Inc. $MMSI

Key Points

• Conestoga Capital Advisors increased its stake in Merit Medical Systems by 3.9% in Q1, ending with 2,167,513 shares valued at about $149.4 million. The holding makes up roughly 3.0% of the firm’s portfolio and is its 11th largest position.
• Merit Medical Systems reported better-than-expected Q1 results, posting EPS of $0.94 versus the $0.84 estimate and revenue of $381.88 million, up 7.4% year over year. The company also raised guidance for FY 2026 to $4.01-$4.15 EPS.
• Wall Street sentiment remains generally positive but cautious: analysts have a Moderate Buy consensus with a $92.80 price target, though several firms recently cut their targets and Weiss Ratings downgraded the stock to sell.

Conestoga Capital Advisors LLC grew its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,167,513 shares of the medical instruments supplier's stock after purchasing an additional 81,030 shares during the quarter. Merit Medical Systems comprises about 3.0% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 11th biggest position. Conestoga Capital Advisors LLC owned approximately 3.63% of Merit Medical Systems worth $149,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Los Angeles Capital Management LLC acquired a new position in Merit Medical Systems during the fourth quarter worth $25,000. Maseco LLP acquired a new stake in shares of Merit Medical Systems in the fourth quarter worth about $26,000. Torren Management LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter worth about $38,000. Covestor Ltd boosted its stake in shares of Merit Medical Systems by 252.6% during the 4th quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier's stock worth $41,000 after acquiring an additional 336 shares in the last quarter. Finally, Danske Bank A S acquired a new position in shares of Merit Medical Systems during the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 99.66% of the company's stock.

Insider Activity at Merit Medical Systems

In related news, insider Brian G. Lloyd purchased 2,000 shares of the stock in a transaction on Thursday, May 7th. The shares were purchased at an average cost of $62.62 per share, for a total transaction of $125,240.00. Following the completion of the transaction, the insider directly owned 2,000 shares of the company's stock, valued at approximately $125,240. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynne N. Ward sold 5,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $62.61, for a total value of $313,050.00. Following the transaction, the director owned 7,809 shares of the company's stock, valued at $488,921.49. This represents a 39.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MMSI. Canaccord Genuity Group cut their price objective on Merit Medical Systems from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Needham & Company LLC lowered their price target on Merit Medical Systems from $101.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 1st. JPMorgan Chase & Co. dropped their price target on shares of Merit Medical Systems from $95.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Weiss Ratings cut shares of Merit Medical Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. Finally, Barrington Research lowered their target price on shares of Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating on the stock in a research note on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.80.

Merit Medical Systems Trading Up 0.2%

Shares of Merit Medical Systems stock opened at $69.45 on Thursday. Merit Medical Systems, Inc. has a 52-week low of $59.74 and a 52-week high of $96.74. The firm has a market capitalization of $4.14 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.08 and a quick ratio of 3.46. The company's fifty day moving average price is $65.35 and its two-hundred day moving average price is $73.78.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.10. The company had revenue of $381.88 million during the quarter, compared to the consensus estimate of $377.59 million. Merit Medical Systems had a net margin of 9.03% and a return on equity of 13.54%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. On average, analysts expect that Merit Medical Systems, Inc. will post 3.62 EPS for the current year.

Merit Medical Systems Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.