Merit Medical Systems, Inc. $MMSI Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB decreased its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,887 shares of the medical instruments supplier’s stock after selling 4,441 shares during the quarter. Wilmington Savings Fund Society FSB owned about 0.15% of Merit Medical Systems worth $8,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMSI. Invesco Ltd. grew its holdings in shares of Merit Medical Systems by 16.4% during the 1st quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier’s stock worth $188,934,000 after purchasing an additional 251,821 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Merit Medical Systems by 8.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,766,711 shares of the medical instruments supplier’s stock worth $186,759,000 after purchasing an additional 133,465 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Merit Medical Systems during the 1st quarter worth about $134,517,000. Nuveen LLC purchased a new stake in shares of Merit Medical Systems during the 1st quarter worth about $80,679,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Merit Medical Systems by 16.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier’s stock worth $76,039,000 after acquiring an additional 103,878 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insider Activity at Merit Medical Systems

In other news, Director Lynne N. Ward sold 3,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the completion of the transaction, the director owned 12,809 shares in the company, valued at approximately $1,134,365.04. This represents a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MMSI shares. Weiss Ratings restated a “hold (c+)” rating on shares of Merit Medical Systems in a report on Wednesday, October 8th. Piper Sandler decreased their price target on Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Needham & Company LLC restated a “buy” rating and issued a $108.00 price target on shares of Merit Medical Systems in a report on Friday, July 18th. Barrington Research reaffirmed an “outperform” rating and issued a $103.00 target price on shares of Merit Medical Systems in a research report on Tuesday, October 7th. Finally, Raymond James Financial cut their target price on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $107.50.

Merit Medical Systems Stock Performance

MMSI stock opened at $79.43 on Tuesday. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The firm has a market cap of $4.70 billion, a P/E ratio of 40.32, a P/E/G ratio of 2.54 and a beta of 0.58. Merit Medical Systems, Inc. has a 12-month low of $78.12 and a 12-month high of $111.45. The stock’s 50 day simple moving average is $85.71 and its 200 day simple moving average is $90.50.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The business had revenue of $382.46 million for the quarter, compared to analyst estimates of $372.47 million. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Merit Medical Systems 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.