Merit Medical Systems, Inc. $MMSI Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP reduced its Merit Medical Systems stake by 70.6% in the second quarter, selling 22,701 shares and retaining 9,459 shares valued at approximately $656,000. Institutional investors and hedge funds collectively own 99.66% of MMSI.
• Merit Medical reported quarterly EPS of $1.19, exceeding estimates of $0.96, while revenue reached $418.84 million, up 9.5% year over year and above expectations.
• Analysts remain broadly positive, with an overall “Moderate Buy” rating and an average price target of $100. Recent targets range from $95 to $106, compared with the stock’s reported price of $85.49.

Engineers Gate Manager LP cut its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 70.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,459 shares of the medical instruments supplier's stock after selling 22,701 shares during the period. Engineers Gate Manager LP's holdings in Merit Medical Systems were worth $656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MMSI. Jupiter Topco LLC purchased a new stake in Merit Medical Systems during the second quarter worth approximately $1,908,000. Trillium Asset Management LLC purchased a new position in shares of Merit Medical Systems in the 2nd quarter valued at $6,105,000. WINTON GROUP Ltd purchased a new position in shares of Merit Medical Systems in the 4th quarter valued at $12,239,000. Quantinno Capital Management LP lifted its holdings in shares of Merit Medical Systems by 200.3% during the 1st quarter. Quantinno Capital Management LP now owns 17,612 shares of the medical instruments supplier's stock valued at $1,214,000 after acquiring an additional 11,747 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Merit Medical Systems during the 4th quarter valued at $75,957,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Trading Up 0.1%

Shares of NASDAQ:MMSI opened at $85.49 on Tuesday. The company has a market cap of $5.10 billion, a PE ratio of 35.33, a P/E/G ratio of 2.13 and a beta of 0.49. The company's 50-day moving average price is $85.23 and its 200 day moving average price is $73.69. Merit Medical Systems, Inc. has a fifty-two week low of $59.74 and a fifty-two week 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.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.23. The company had revenue of $418.84 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.84 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MMSI shares. JPMorgan Chase & Co. upped their target price on shares of Merit Medical Systems from $77.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Merit Medical Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 18th. Bank of America boosted their price objective on shares of Merit Medical Systems from $92.00 to $97.00 and gave the stock a "neutral" rating in a report on Thursday, August 13th. Needham & Company LLC raised their price objective on Merit Medical Systems from $90.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Piper Sandler lifted their price objective on Merit Medical Systems from $96.00 to $106.00 and gave the stock an "overweight" rating in a 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems 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 markets disposable products used in interventional, diagnostic and therapeutic procedures. Its portfolio is designed primarily for use by physicians in hospitals, outpatient facilities and other healthcare settings.

The company's products support a range of specialties, including cardiovascular intervention, peripheral intervention, oncology, spine and pain management, general surgery, and critical care.

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