Tidal Investments LLC Has $11.11 Million Stock Holdings in Merit Medical Systems, Inc. $MMSI

Tidal Investments LLC decreased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 22.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 160,234 shares of the medical instruments supplier’s stock after selling 45,113 shares during the period. Tidal Investments LLC’s holdings in Merit Medical Systems were worth $11,111,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. California State Teachers Retirement System lifted its position in Merit Medical Systems by 6,636.5% during the second quarter. California State Teachers Retirement System now owns 4,682,184 shares of the medical instruments supplier’s stock worth $324,663,000 after acquiring an additional 4,612,679 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Merit Medical Systems in the second quarter valued at approximately $78,894,000. Wellington Management Group LLP increased its stake in shares of Merit Medical Systems by 377.7% during 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 purchasing an additional 980,823 shares during the period. Norges Bank acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $75,957,000. Finally, Irenic Capital Management LP acquired a new stake in Merit Medical Systems during the 2nd quarter worth approximately $37,623,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $86.36 on Friday. The company has a quick ratio of 2.79, a current ratio of 4.20 and a debt-to-equity ratio of 0.44. The stock has a market cap of $5.16 billion, a PE ratio of 35.69, a P/E/G ratio of 2.16 and a beta of 0.49. Merit Medical Systems, Inc. has a 12-month low of $59.74 and a 12-month high of $94.75. The business’s 50-day moving average price is $83.57 and its two-hundred day moving average price is $73.41.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.23. Merit Medical Systems had a net margin of 9.22% and a return on equity of 13.75%. The firm had revenue of $418.84 million during the quarter, compared to analysts’ expectations of $405.25 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business’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, analysts expect that Merit Medical Systems, Inc. will post 3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MMSI has been the topic of a number of research reports. Wells Fargo & Company upped their price objective on Merit Medical Systems from $74.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Robert W. Baird set a $98.00 price target on Merit Medical Systems in a research report on Friday, July 31st. Zacks Research upgraded Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 25th. Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, Piper Sandler increased their target price on Merit Medical Systems from $96.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $100.00.

About Merit Medical Systems

Merit Medical Systems, Inc is a medical device company that develops, manufactures and markets disposable products used in interventional, diagnostic and therapeutic procedures. Its portfolio is designed primarily for use by physicians in hospitals, outpatient facilities and other healthcare settings.

The company’s products support a range of specialties, including cardiovascular intervention, peripheral intervention, oncology, spine and pain management, general surgery, and critical care.