Glenmede Trust Co. NA Reduces Position in Merit Medical Systems, Inc. $MMSI

Glenmede Trust Co. NA trimmed its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 24.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,136 shares of the medical instruments supplier’s stock after selling 6,188 shares during the period. Glenmede Trust Co. NA’s holdings in Merit Medical Systems were worth $1,319,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lido Advisors LLC boosted its position in shares of Merit Medical Systems by 3.8% during the fourth quarter. Lido Advisors LLC now owns 3,836 shares of the medical instruments supplier’s stock valued at $324,000 after buying an additional 140 shares during the period. AMI Asset Management Corp raised its holdings in shares of Merit Medical Systems by 0.8% in the first quarter. AMI Asset Management Corp now owns 21,818 shares of the medical instruments supplier’s stock worth $1,504,000 after buying an additional 168 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Merit Medical Systems by 2.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 8,693 shares of the medical instruments supplier’s stock worth $766,000 after buying an additional 180 shares during the period. First Horizon Corp lifted its stake in shares of Merit Medical Systems by 19.7% during the 4th quarter. First Horizon Corp now owns 1,117 shares of the medical instruments supplier’s stock worth $98,000 after acquiring an additional 184 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Merit Medical Systems by 11.0% during the 4th quarter. Blue Trust Inc. now owns 1,853 shares of the medical instruments supplier’s stock worth $163,000 after acquiring an additional 184 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Analyst Upgrades and Downgrades

MMSI has been the topic of several research analyst reports. Piper Sandler upped their price objective on Merit Medical Systems from $96.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Needham & Company LLC lifted their target price on Merit Medical Systems from $90.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. boosted 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. Compass Point set a $107.00 price target on shares of Merit Medical Systems in a report on Monday, April 20th. Finally, BTIG Research raised their price target on shares of Merit Medical Systems from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.30.

Merit Medical Systems Stock Up 1.6%

Shares of NASDAQ:MMSI opened at $87.18 on Thursday. Merit Medical Systems, Inc. has a 52-week low of $59.74 and a 52-week high of $94.75. The stock has a market cap of $5.21 billion, a P/E ratio of 36.02, a price-to-earnings-growth ratio of 2.27 and a beta of 0.49. The business’s 50 day moving average is $71.21 and its 200 day moving average is $71.81. 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) last issued its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. Merit Medical Systems had a return on equity of 13.75% and a net margin of 9.22%.The business had revenue of $418.84 million during the quarter, compared to analyst estimates of $405.25 million. During the same period in the previous year, the company posted $1.01 EPS. Merit Medical Systems’s revenue was up 9.5% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. Sell-side analysts predict that Merit Medical Systems, Inc. will post 3.62 EPS for the current year.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.