Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC grew its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,289,148 shares of the medical instruments supplier’s stock after acquiring an additional 38,780 shares during the quarter. Merit Medical Systems comprises approximately 3.1% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Conestoga Capital Advisors LLC owned about 3.94% of Merit Medical Systems worth $226,236,000 as of its most recent SEC filing.

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

Merit Medical Systems Price Performance

MMSI traded up $0.41 during trading on Friday, reaching $99.07. The company’s stock had a trading volume of 117,313 shares, compared to its average volume of 436,652. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $96.49 and a two-hundred day simple moving average of $87.70. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 2.39 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 posted its quarterly earnings results 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. The business had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a return on equity of 15.86% and a net margin of 9.05%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. As a group, analysts anticipate that Merit Medical Systems, Inc. will post 3.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MMSI. Needham & Company LLC restated a “buy” rating and set a $109.00 target price on shares of Merit Medical Systems in a research report on Thursday. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Barrington Research reaffirmed an “outperform” rating and set a $114.00 target price on shares of Merit Medical Systems in a report on Thursday. Robert W. Baird boosted their price target on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and an average price target 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.