Impax Asset Management Group plc Takes Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Impax Asset Management Group plc purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 120,000 shares of the medical instruments supplier’s stock, valued at approximately $11,860,000. Impax Asset Management Group plc owned 0.21% of Merit Medical Systems as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MMSI. William Blair Investment Management LLC raised its position in shares of Merit Medical Systems by 0.3% during the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock worth $262,445,000 after purchasing an additional 10,512 shares during the period. Conestoga Capital Advisors LLC raised its holdings in Merit Medical Systems by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock worth $226,236,000 after buying an additional 38,780 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in Merit Medical Systems by 17.6% during the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after buying an additional 131,977 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock valued at $63,543,000 after buying an additional 22,077 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Merit Medical Systems by 147.2% during the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after buying an additional 377,851 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of analyst reports. Barrington Research reiterated an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, Robert W. Baird increased their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.36.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $98.79 on Wednesday. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $101.60. The stock has a market capitalization of $5.76 billion, a P/E ratio of 48.43, a PEG ratio of 2.45 and a beta of 0.89. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $96.82 and its 200 day moving average is $88.50.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Merit Medical Systems Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.