Freestone Grove Partners LP Purchases Shares of 16,554 Merit Medical Systems, Inc. $MMSI

Key Points

• Freestone Grove Partners initiated a position in Merit Medical Systems, buying 16,554 shares valued at approximately $1.15 million. Institutional investors collectively own 99.66% of the company.
• Analyst sentiment is favorable: Merit Medical has a consensus “Moderate Buy” rating and a $100 average price target, with several firms recently raising their targets.
• Merit Medical exceeded quarterly expectations, reporting $1.19 in EPS versus the $0.96 consensus and revenue of $418.84 million, up 9.5% year over year.

Freestone Grove Partners LP purchased a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,554 shares of the medical instruments supplier's stock, valued at approximately $1,148,000.

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

Analyst Ratings Changes

MMSI has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Merit Medical Systems from $74.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Canaccord Genuity Group lifted their target price on Merit Medical Systems from $85.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Raymond James Financial reissued an "outperform" rating and issued a $100.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. Weiss Ratings raised shares of Merit Medical Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Merit Medical Systems from $77.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.

Merit Medical Systems Trading Up 1.1%

Shares of Merit Medical Systems stock opened at $90.49 on Friday. Merit Medical Systems, Inc. has a twelve month low of $59.74 and a twelve month high of $94.75. The company has a quick ratio of 2.79, a current ratio of 4.20 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $79.77 and a 200-day moving average price of $72.91. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 2.26 and a beta of 0.49.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted 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 company had revenue of $418.84 million for the quarter, compared to the consensus estimate of $405.25 million. During the same period in the previous year, the business earned $1.01 earnings per share. The firm's revenue for the quarter 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. Equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.84 EPS for the current fiscal year.

Merit Medical Systems Company 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.

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