Principal Financial Group Inc. Acquires 15,144 Shares of Merit Medical Systems, Inc. $MMSI

Principal Financial Group Inc. increased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,748 shares of the medical instruments supplier’s stock after acquiring an additional 15,144 shares during the period. Principal Financial Group Inc. owned about 0.58% of Merit Medical Systems worth $23,901,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in Merit Medical Systems by 1.5% during the 4th quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier’s stock worth $196,645,000 after purchasing an additional 32,459 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Merit Medical Systems by 3.9% in the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock valued at $149,407,000 after purchasing an additional 81,030 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Merit Medical Systems by 12.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,796 shares of the medical instruments supplier’s stock valued at $183,137,000 after buying an additional 234,682 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Merit Medical Systems by 7.0% during the fourth quarter. Wellington Management Group LLP now owns 1,327,013 shares of the medical instruments supplier’s stock valued at $116,963,000 after buying an additional 86,504 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Merit Medical Systems by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,225,013 shares of the medical instruments supplier’s stock worth $107,974,000 after buying an additional 47,151 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In related news, Director Lynne N. Ward sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $62.61, for a total value of $313,050.00. Following the sale, the director directly owned 7,809 shares in the company, valued at approximately $488,921.49. The trade was a 39.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian G. Lloyd acquired 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were acquired at an average cost of $62.62 per share, for a total transaction of $125,240.00. Following the completion of the acquisition, the insider owned 2,000 shares of the company’s stock, valued at approximately $125,240. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is currently owned by corporate insiders.

Merit Medical Systems Trading Up 1.6%

NASDAQ:MMSI opened at $75.17 on Tuesday. Merit Medical Systems, Inc. has a 12 month low of $59.74 and a 12 month high of $94.75. The company has a current ratio of 5.08, a quick ratio of 3.46 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $67.26 and its 200 day moving average is $72.42. The stock has a market capitalization of $4.48 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 2.30 and a beta of 0.52.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.10. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The business had revenue of $381.88 million during the quarter, compared to analyst estimates of $377.59 million. During the same period in the prior year, the company earned $0.86 earnings per share. Merit Medical Systems’s revenue was up 7.4% compared to the same quarter last year. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Sell-side analysts expect that Merit Medical Systems, Inc. will post 3.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Canaccord Genuity Group lowered their price target on Merit Medical Systems from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Wells Fargo & Company cut their price objective on shares of Merit Medical Systems from $78.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Robert W. Baird set a $83.00 target price on shares of Merit Medical Systems in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Merit Medical Systems from $95.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Finally, Weiss Ratings lowered shares of Merit Medical Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and an average price target of $92.80.

Merit Medical Systems 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.