Irenic Capital Management LP Takes $37.62 Million Position in Merit Medical Systems, Inc. $MMSI

Irenic Capital Management LP bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the 2nd quarter, Holdings Channel.com reports. The firm bought 542,589 shares of the medical instruments supplier’s stock, valued at approximately $37,623,000. Merit Medical Systems comprises approximately 1.8% of Irenic Capital Management LP’s holdings, making the stock its 15th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BAM Wealth Management LLC raised its position in Merit Medical Systems by 56.6% in the second quarter. BAM Wealth Management LLC now owns 6,541 shares of the medical instruments supplier’s stock valued at $454,000 after purchasing an additional 2,365 shares during the period. iSAM Funds UK Ltd purchased a new stake in shares of Merit Medical Systems in the second quarter worth about $222,000. Nykredit A S acquired a new stake in shares of Merit Medical Systems in the second quarter valued at about $210,000. Benjamin Edwards Inc. raised its holdings in shares of Merit Medical Systems by 6.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 10,761 shares of the medical instruments supplier’s stock valued at $746,000 after buying an additional 609 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Merit Medical Systems by 11.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,854 shares of the medical instruments supplier’s stock valued at $12,055,000 after buying an additional 18,276 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MMSI has been the subject of a number of analyst reports. Weiss Ratings upgraded Merit Medical Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Canaccord Genuity Group lifted their price objective on shares of Merit Medical Systems from $85.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Robert W. Baird set a $98.00 target price on shares of Merit Medical Systems in a research report on Friday, July 31st. Zacks Research upgraded shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 25th. Finally, Barrington Research set a $114.00 price target on shares of Merit Medical Systems in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.00.

Merit Medical Systems Trading Up 1.2%

NASDAQ:MMSI opened at $89.60 on Friday. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 37.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.49. Merit Medical Systems, Inc. has a one year low of $59.74 and a one year high of $94.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.79 and a current ratio of 4.20. The business’s 50-day simple moving average is $81.85 and its 200 day simple moving average is $73.22.

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 firm had revenue of $418.84 million during the quarter, compared to analyst estimates of $405.25 million. During the same quarter last year, the firm earned $1.01 EPS. Merit Medical Systems’s quarterly 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. As a group, sell-side analysts predict that Merit Medical Systems, Inc. will post 3.84 earnings per share 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.