Irenic Capital Management LP Buys New Stake in Merit Medical Systems, Inc. $MMSI

Key Points

• Irenic Capital Management acquired 542,589 shares of Merit Medical Systems, valued at approximately $37.6 million, representing about 0.91% of the company and 1.8% of Irenic’s portfolio.
• Merit Medical reported quarterly EPS of $1.19, beating estimates of $0.96, while revenue rose 9.5% year over year to $418.84 million. The company issued fiscal 2026 EPS guidance of $4.25–$4.35.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $100, compared with the stock’s reported opening price of $89.60.

Irenic Capital Management LP bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 542,589 shares of the medical instruments supplier's stock, valued at approximately $37,623,000. Merit Medical Systems comprises about 1.8% of Irenic Capital Management LP's holdings, making the stock its 15th biggest position. Irenic Capital Management LP owned about 0.91% of Merit Medical Systems at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Kilter Group LLC purchased a new stake in shares of Merit Medical Systems in the second quarter valued at $25,000. Los Angeles Capital Management LLC purchased a new stake in Merit Medical Systems during the 4th quarter worth about $25,000. Covestor Ltd increased its position in 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 purchasing an additional 336 shares in the last quarter. Danske Bank A S acquired a new position in Merit Medical Systems in the 3rd quarter valued at about $42,000. Finally, Quarry LP lifted its holdings in Merit Medical Systems by 185.9% in the 3rd quarter. Quarry LP now owns 526 shares of the medical instruments supplier's stock valued at $44,000 after purchasing an additional 342 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Trading Up 1.2%

Shares of MMSI opened at $89.60 on Friday. The company has a current ratio of 4.20, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $5.35 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.49. The stock's fifty day simple moving average is $81.85 and its 200 day simple moving average is $73.22. Merit Medical Systems, Inc. has a twelve month low of $59.74 and a twelve month high of $94.75.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on MMSI. Needham & Company LLC raised their price target on shares of Merit Medical Systems from $90.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Barrington Research set a $114.00 price objective on shares of Merit Medical Systems in a research note on Friday, July 31st. Robert W. Baird set a $98.00 target price on shares of Merit Medical Systems in a research report on Friday, July 31st. BTIG Research reaffirmed a "buy" rating and issued a $105.00 target price on shares of Merit Medical Systems in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their price target on Merit Medical Systems from $77.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $100.00.

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.

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