AMI Asset Management Corp Has $2.54 Million Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

AMI Asset Management Corp decreased its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,674 shares of the medical instruments supplier’s stock after selling 1,620 shares during the period. AMI Asset Management Corp’s holdings in Merit Medical Systems were worth $2,537,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Point72 Asset Management L.P. lifted its holdings in shares of Merit Medical Systems by 147.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after purchasing an additional 377,851 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Merit Medical Systems in the third quarter valued at about $21,156,000. Handelsbanken Fonder AB increased its position in Merit Medical Systems by 1,343.5% during the third quarter. Handelsbanken Fonder AB now owns 192,109 shares of the medical instruments supplier’s stock worth $18,986,000 after acquiring an additional 178,800 shares during the period. F M Investments LLC acquired a new position in shares of Merit Medical Systems during the 2nd quarter worth approximately $12,550,000. Finally, Westwood Holdings Group Inc. increased its stake in Merit Medical Systems by 17.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after acquiring an additional 131,977 shares during the period. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $95.90 on Wednesday. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $96.30 and its 200-day moving average price is $87.57. The firm has a market capitalization of $5.57 billion, a P/E ratio of 55.11, a P/E/G ratio of 2.41 and a beta of 0.87. Merit Medical Systems, Inc. has a 1-year low of $65.46 and a 1-year high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. Equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on MMSI. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group increased their price target on Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Barrington Research reiterated an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research report on Friday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems Company 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.