Merit Medical Systems, Inc. $MMSI Holdings Lowered by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Merit Medical Systems stake by 50.4% in the third quarter, selling 68,246 shares and retaining 67,135 shares valued at approximately $5.8 million.
• 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 generally positive view, with the stock rated “Moderate Buy” and an average price target of $100, compared with its reported market price of $91.18.

Assenagon Asset Management S.A. reduced its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 50.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,135 shares of the medical instruments supplier's stock after selling 68,246 shares during the quarter. Assenagon Asset Management S.A. owned about 0.11% of Merit Medical Systems worth $5,789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kilter Group LLC purchased a new position in shares of Merit Medical Systems in the second quarter worth about $25,000. Harbor Investment Advisory LLC acquired a new position in shares of Merit Medical Systems during the 2nd quarter worth approximately $50,000. Farther Finance Advisors LLC boosted its holdings in shares of Merit Medical Systems by 44.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 890 shares of the medical instruments supplier's stock worth $77,000 after purchasing an additional 272 shares during the last quarter. State of Wyoming acquired a new position in shares of Merit Medical Systems during the 2nd quarter worth approximately $79,000. Finally, Globeflex Capital L P purchased a new stake in shares of Merit Medical Systems in the second quarter valued at approximately $87,000. Hedge funds and other institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $91.18 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.25 and a beta of 0.51. The company's 50-day moving average is $88.30 and its two-hundred day moving average is $76.33. Merit Medical Systems, Inc. has a 1-year low of $59.74 and a 1-year 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 for the quarter, beating the consensus estimate of $0.96 by $0.23. The business had revenue of $418.84 million during the quarter, compared to analysts' expectations of $405.25 million. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. Analysts forecast that Merit Medical Systems, Inc. will post 3.84 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on MMSI shares. Barrington Research set a $114.00 price target on Merit Medical Systems in a report on Friday, July 31st. Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $97.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Piper Sandler boosted their price objective on Merit Medical Systems from $96.00 to $106.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Raymond James Financial reissued an "outperform" rating and set a $100.00 price objective on shares of Merit Medical Systems in a research note on Friday, July 31st. Finally, Wells Fargo & Company upped their target price on Merit Medical Systems from $74.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $100.00.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a medical device company that develops, manufactures and distributes disposable products used in interventional, diagnostic and therapeutic procedures. Its devices are designed for use by healthcare professionals in hospitals, outpatient facilities and other clinical settings.

The company's product portfolio includes devices for vascular access, angiography, intervention, drainage, embolization, oncology and cardiac procedures. Merit also offers products used in peripheral intervention, spine procedures and other specialized areas of minimally invasive medicine, including kits, accessories and related procedural equipment.

Founded in 1987 and headquartered in South Jordan, Utah, Merit Medical serves healthcare providers through a global commercial and manufacturing network.

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.