Merit Medical Systems, Inc. $MMSI Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,309 shares of the medical instruments supplier’s stock after selling 900 shares during the quarter. Handelsbanken Fonder AB owned 0.38% of Merit Medical Systems worth $21,155,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Maseco LLP acquired a new position in Merit Medical Systems during the 2nd quarter worth approximately $28,000. IFP Advisors Inc raised its stake in shares of Merit Medical Systems by 1,435.0% during the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock valued at $32,000 after purchasing an additional 287 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Merit Medical Systems by 119.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Merit Medical Systems by 55.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 134 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in shares of Merit Medical Systems in the first quarter valued at $41,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Up 2.7%

Shares of NASDAQ:MMSI opened at $87.20 on Friday. The company’s fifty day moving average is $83.81 and its two-hundred day moving average is $88.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. Merit Medical Systems, Inc. has a 1-year low of $78.12 and a 1-year high of $111.45. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 44.26, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The business had revenue of $384.16 million during the quarter, compared to the consensus estimate of $371.69 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’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. Equities analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Analyst Ratings Changes

MMSI has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Robert W. Baird set a $103.00 price target on Merit Medical Systems in a research note on Friday, October 31st. Canaccord Genuity Group reduced 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. Wells Fargo & Company dropped their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, November 14th. Finally, Piper Sandler reiterated an “overweight” rating and set a $109.00 target price (up from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.50.

Insider Buying and Selling at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $85.13, for a total value of $1,702,600.00. Following the sale, the chairman owned 1,054,955 shares of the company’s stock, valued at approximately $89,808,319.15. This trade represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Merit Medical Systems Company Profile

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.