Greenhouse Funds LLLP Boosts Holdings in Merit Medical Systems, Inc. $MMSI

Key Points

• Greenhouse Funds raised its stake in Merit Medical by 48.3%, adding 284,015 shares to hold 871,927 shares (1.47% of MMSI) worth $72.57 million, making it the fund's 20th largest position and ~2.7% of its portfolio.
• Merit Medical beat quarterly expectations with EPS of $1.04 versus $0.96 and revenue of $393.94 million (up 10.9% YoY), and the company set FY2026 guidance of 4.010–4.150 EPS.
• The stock carries a consensus rating of "Moderate Buy" with a $103.33 average price target, a $4.16 billion market cap and a P/E of 33.06, while institutional ownership stands at 99.66%.

Greenhouse Funds LLLP lifted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 48.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 871,927 shares of the medical instruments supplier's stock after acquiring an additional 284,015 shares during the period. Merit Medical Systems accounts for about 2.7% of Greenhouse Funds LLLP's investment portfolio, making the stock its 20th largest position. Greenhouse Funds LLLP owned 1.47% of Merit Medical Systems worth $72,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its stake in Merit Medical Systems by 7.3% during the first quarter. AQR Capital Management LLC now owns 16,361 shares of the medical instruments supplier's stock worth $1,730,000 after purchasing an additional 1,114 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Merit Medical Systems by 16.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier's stock worth $76,039,000 after buying an additional 103,878 shares during the period. Bank of New York Mellon Corp boosted its holdings in Merit Medical Systems by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 428,084 shares of the medical instruments supplier's stock valued at $40,017,000 after acquiring an additional 2,261 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in Merit Medical Systems by 26.3% in the second quarter. Wedbush Securities Inc. now owns 2,653 shares of the medical instruments supplier's stock valued at $248,000 after acquiring an additional 553 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Merit Medical Systems during the second quarter valued at about $1,147,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $70.08 on Thursday. The firm has a market capitalization of $4.16 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 2.02 and a beta of 0.62. Merit Medical Systems, Inc. has a one year low of $68.44 and a one year high of $107.27. The stock's 50 day moving average price is $81.14 and its 200 day moving average price is $84.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.95 and a current ratio of 4.34.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The medical instruments supplier reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.08. The company had revenue of $393.94 million for the quarter, compared to analyst estimates of $390.77 million. Merit Medical Systems had a net margin of 8.48% and a return on equity of 13.82%. The business's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. As a group, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Analyst Ratings Changes

MMSI has been the subject of several research analyst reports. Piper Sandler dropped their price target on Merit Medical Systems from $113.00 to $106.00 and set an "overweight" rating for the company in a research note on Wednesday, February 18th. BTIG Research started coverage on Merit Medical Systems in a report on Friday, February 6th. They set a "buy" rating and a $107.00 target price for the company. Needham & Company LLC dropped their target price on shares of Merit Medical Systems from $108.00 to $101.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. Robert W. Baird set a $108.00 price target on shares of Merit Medical Systems in a report on Tuesday, December 16th. Finally, Canaccord Genuity Group lifted their price target on shares of Merit Medical Systems from $93.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.33.

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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