Merit Medical Systems, Inc. $MMSI Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 35.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,630 shares of the medical instruments supplier’s stock after selling 7,016 shares during the period. State of Alaska Department of Revenue’s holdings in Merit Medical Systems were worth $1,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MMSI. GAMMA Investing LLC grew its position in shares of Merit Medical Systems by 9.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,550 shares of the medical instruments supplier’s stock worth $306,000 after buying an additional 300 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Merit Medical Systems by 44.0% in the third quarter. Farther Finance Advisors LLC now owns 890 shares of the medical instruments supplier’s stock valued at $77,000 after acquiring an additional 272 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Merit Medical Systems by 6.4% in the third quarter. Congress Asset Management Co. now owns 1,260,675 shares of the medical instruments supplier’s stock valued at $108,708,000 after acquiring an additional 76,338 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in Merit Medical Systems in the third quarter worth about $203,000. Finally, QRG Capital Management Inc. lifted its stake in Merit Medical Systems by 10.9% in the second quarter. QRG Capital Management Inc. now owns 9,305 shares of the medical instruments supplier’s stock worth $645,000 after acquiring an additional 917 shares during the period. 99.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MMSI has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $101.00 target price on shares of Merit Medical Systems in a report on Tuesday, September 29th. Wells Fargo & Company boosted their price target on shares of Merit Medical Systems from $74.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Piper Sandler boosted their price target on shares of Merit Medical Systems from $96.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Merit Medical Systems from $77.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Bank of America increased their price objective on shares of Merit Medical Systems from $92.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.00.

Merit Medical Systems Trading Up 1.4%

MMSI opened at $91.18 on Wednesday. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 2.25 and a beta of 0.51. The company has a current ratio of 4.20, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44. Merit Medical Systems, Inc. has a 12 month low of $59.74 and a 12 month high of $94.75. The stock has a fifty day moving average price of $88.30 and a 200-day moving average price of $76.33.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data 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 company had revenue of $418.84 million for the quarter, compared to the consensus estimate of $405.25 million. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. As a group, equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.84 earnings per share for the current fiscal year.

About Merit Medical Systems

Merit Medical Systems, Inc is a medical device company that develops, manufactures and distributes disposable products used in interventional, diagnostic and therapeutic procedures. Its devices are designed for use by healthcare professionals in hospitals, outpatient facilities and other clinical settings.

The company’s product portfolio includes devices for vascular access, angiography, intervention, drainage, embolization, oncology and cardiac procedures. Merit also offers products used in peripheral intervention, spine procedures and other specialized areas of minimally invasive medicine, including kits, accessories and related procedural equipment.

Founded in 1987 and headquartered in South Jordan, Utah, Merit Medical serves healthcare providers through a global commercial and manufacturing network.