Merit Medical Systems, Inc. $MMSI Shares Acquired by Renaissance Group LLC

Renaissance Group LLC increased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 29.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 66,253 shares of the medical instruments supplier’s stock after purchasing an additional 15,185 shares during the quarter. Renaissance Group LLC’s holdings in Merit Medical Systems were worth $6,193,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MMSI. Invesco Ltd. lifted its holdings in shares of Merit Medical Systems by 16.4% in the 1st quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier’s stock valued at $188,934,000 after purchasing an additional 251,821 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Merit Medical Systems by 8.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,766,711 shares of the medical instruments supplier’s stock worth $186,759,000 after buying an additional 133,465 shares during the period. Geode Capital Management LLC lifted its stake in Merit Medical Systems by 2.8% in the second quarter. Geode Capital Management LLC now owns 1,437,397 shares of the medical instruments supplier’s stock valued at $134,384,000 after buying an additional 39,620 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in Merit Medical Systems in the first quarter valued at approximately $134,517,000. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Merit Medical Systems by 11.9% in the second quarter. Westwood Holdings Group Inc. now owns 768,970 shares of the medical instruments supplier’s stock valued at $71,883,000 after acquiring an additional 81,469 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Activity

In related news, Director Lynne N. Ward sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the sale, the director owned 12,809 shares in the company, valued at approximately $1,134,365.04. This trade represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday. Wells Fargo & Company dropped their price objective on shares of Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, November 14th. Barrington Research reiterated an “outperform” rating and set a $106.00 target price on shares of Merit Medical Systems in a research note on Friday, November 14th. Robert W. Baird set a $103.00 price target on Merit Medical Systems in a research report on Friday, October 31st. Finally, Raymond James Financial lowered their target price on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $104.50.

Merit Medical Systems Trading Down 1.9%

NASDAQ:MMSI opened at $84.17 on Wednesday. Merit Medical Systems, Inc. has a 1 year low of $78.12 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. The stock has a fifty day moving average price of $83.98 and a two-hundred day moving average price of $88.67. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 2.62 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The business had revenue of $384.16 million for the quarter, compared to analyst estimates of $371.69 million. During the same quarter last year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.