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

Glenmede Trust Co. NA cut its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 24.4% during the first quarter, Holdings Channel.com reports. The firm 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 also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Merit Medical Systems by 377.7% in the third quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier’s stock worth $103,248,000 after buying an additional 980,823 shares in the last quarter. Norges Bank bought a new stake in Merit Medical Systems during the 4th quarter valued at $75,957,000. Iron Triangle Partners LP bought a new stake in Merit Medical Systems during the 4th quarter valued at $33,992,000. Champlain Investment Partners LLC purchased a new position in shares of Merit Medical Systems in the 4th quarter valued at $32,359,000. Finally, Fifth Third Bancorp increased its holdings in shares of Merit Medical Systems by 24,625.6% in the 1st quarter. Fifth Third Bancorp now owns 313,026 shares of the medical instruments supplier’s stock valued at $21,577,000 after acquiring an additional 311,760 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MMSI. Compass Point set a $107.00 price target on Merit Medical Systems in a research report on Monday, April 20th. BTIG Research lifted their target price on Merit Medical Systems from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citigroup reiterated an “outperform” rating on shares of Merit Medical Systems in a report on Monday, April 20th. Needham & Company LLC increased their price target on shares of Merit Medical Systems from $90.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Barrington Research set a $114.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $100.30.

Merit Medical Systems Stock Up 1.6%

Merit Medical Systems stock opened at $87.18 on Thursday. Merit Medical Systems, Inc. has a 1-year low of $59.74 and a 1-year high of $94.75. The business has a fifty day moving average price of $71.21 and a 200-day moving average price of $71.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 2.27 and a beta of 0.49.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $405.25 million. During the same period in the prior year, the company posted $1.01 EPS. The firm’s quarterly revenue 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. Equities research analysts forecast that Merit Medical Systems, Inc. will post 3.62 EPS for the current fiscal 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.