Impax Asset Management Group plc Purchases Shares of 120,000 Merit Medical Systems, Inc. (NASDAQ:MMSI)

Impax Asset Management Group plc acquired a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 120,000 shares of the medical instruments supplier’s stock, valued at approximately $11,860,000.

Other large investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Merit Medical Systems during the 2nd quarter worth approximately $29,000. DekaBank Deutsche Girozentrale bought a new position in shares of Merit Medical Systems in the first quarter worth approximately $44,000. Headlands Technologies LLC purchased a new position in shares of Merit Medical Systems in the first quarter worth $50,000. USA Financial Formulas bought a new stake in Merit Medical Systems during the 3rd quarter valued at $59,000. Finally, EntryPoint Capital LLC boosted its position in Merit Medical Systems by 2,666.7% during the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 880 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $98.79 on Wednesday. The company’s fifty day moving average price is $96.82 and its 200-day moving average price is $88.50. The stock has a market cap of $5.76 billion, a PE ratio of 48.43, a price-to-earnings-growth 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. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $101.60.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on MMSI. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday. Barrington Research reaffirmed an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Piper Sandler restated an “overweight” rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $103.36.

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.