Merit Medical Systems, Inc. $MMSI Stock Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC decreased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 23.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,510,239 shares of the medical instruments supplier’s stock after selling 469,551 shares during the period. Merit Medical Systems comprises 3.9% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 4th largest position. Conestoga Capital Advisors LLC’s holdings in Merit Medical Systems were worth $130,228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kilter Group LLC bought a new stake in shares of Merit Medical Systems during the second quarter valued at approximately $25,000. Salomon & Ludwin LLC lifted its position in Merit Medical Systems by 140.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 537 shares of the medical instruments supplier’s stock valued at $46,000 after acquiring an additional 314 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in Merit Medical Systems in the 2nd quarter valued at approximately $50,000. IFP Advisors Inc boosted its stake in Merit Medical Systems by 88.6% during the 3rd quarter. IFP Advisors Inc now owns 694 shares of the medical instruments supplier’s stock valued at $60,000 after purchasing an additional 326 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in Merit Medical Systems by 84.0% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 784 shares of the medical instruments supplier’s stock valued at $68,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Trading Up 7.7%

Shares of MMSI stock opened at $90.63 on Thursday. The company has a current ratio of 4.52, a quick ratio of 3.05 and a debt-to-equity ratio of 0.42. Merit Medical Systems, Inc. has a 12-month low of $59.74 and a 12-month high of $94.85. The stock has a market capitalization of $5.43 billion, a P/E ratio of 34.07, a P/E/G ratio of 2.06 and a beta of 0.56. The firm’s 50 day moving average is $88.34 and its 200 day moving average is $77.22.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, October 29th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $416.24 million during the quarter, compared to analyst estimates of $410.56 million. Merit Medical Systems had a net margin of 9.94% and a return on equity of 14.12%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. Research analysts expect that Merit Medical Systems, Inc. will post 3.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on MMSI shares. Needham & Company LLC lifted their target price on Merit Medical Systems from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Wells Fargo & Company upped their price target on Merit Medical Systems from $83.00 to $92.00 and gave the company an “equal weight” rating in a report on Friday, October 30th. Robert W. Baird set a $98.00 price objective on Merit Medical Systems in a research report on Friday, July 31st. BTIG Research lifted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on Merit Medical Systems from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.55.

Merit Medical Systems Company Profile

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.