Rhumbline Advisers Buys 11,089 Shares of Merit Medical Systems, Inc. $MMSI

Rhumbline Advisers raised its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,643 shares of the medical instruments supplier’s stock after acquiring an additional 11,089 shares during the period. Rhumbline Advisers’ holdings in Merit Medical Systems were worth $15,671,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Maseco LLP acquired a new position in Merit Medical Systems in the second quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. increased its holdings in Merit Medical Systems by 119.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 200 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Merit Medical Systems by 55.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after buying an additional 134 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Merit Medical Systems in the 1st quarter valued at approximately $41,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter worth approximately $60,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MMSI. Wells Fargo & Company decreased 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. Zacks Research downgraded Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Canaccord Genuity Group lowered their price target on Merit Medical Systems from $104.00 to $93.00 and set a “buy” rating for the company in a report on Friday, November 14th. Needham & Company LLC restated a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a research report on Friday, October 31st. Finally, Robert W. Baird set a $103.00 target price on Merit Medical Systems in a research report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.50.

Merit Medical Systems Trading Down 0.9%

Shares of MMSI stock opened at $86.59 on Friday. The firm has a market capitalization of $5.13 billion, a P/E ratio of 43.95, a P/E/G ratio of 2.62 and a beta of 0.64. Merit Medical Systems, Inc. has a twelve month low of $78.12 and a twelve month high of $111.45. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $84.21 and its 200 day simple moving average is $88.21.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $384.16 million during the quarter, compared to the consensus estimate of $371.69 million. During the same period last year, the company earned $0.86 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, sell-side analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Insider Transactions at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 25,000 shares of Merit Medical Systems stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $87.31, for a total transaction of $2,182,750.00. Following the sale, the chairman directly owned 1,029,955 shares in the company, valued at $89,925,371.05. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 60,000 shares of company stock valued at $5,189,900. 3.20% of the stock is owned by company insiders.

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.