Envestnet Asset Management Inc. Boosts Stock Position in Merit Medical Systems, Inc. $MMSI

Envestnet Asset Management Inc. raised its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 244,163 shares of the medical instruments supplier’s stock after acquiring an additional 12,256 shares during the period. Envestnet Asset Management Inc. owned approximately 0.41% of Merit Medical Systems worth $22,824,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Amundi lifted its stake in shares of Merit Medical Systems by 2.2% in the 1st quarter. Amundi now owns 132,780 shares of the medical instruments supplier’s stock valued at $13,804,000 after purchasing an additional 2,847 shares during the period. Wellington Management Group LLP raised its stake in shares of Merit Medical Systems by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 260,084 shares of the medical instruments supplier’s stock worth $27,493,000 after buying an additional 34,448 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Merit Medical Systems by 119.8% during 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 in the last quarter. Fred Alger Management LLC grew its stake in Merit Medical Systems by 22.9% in the 1st quarter. Fred Alger Management LLC now owns 154,707 shares of the medical instruments supplier’s stock valued at $16,354,000 after acquiring an additional 28,793 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Merit Medical Systems by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,967 shares of the medical instruments supplier’s stock worth $3,908,000 after acquiring an additional 1,436 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $1,134,365.04. This trade represents a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MMSI. Wells Fargo & Company lowered their target price on shares of Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Canaccord Genuity Group boosted their target price on Merit Medical Systems from $103.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Needham & Company LLC reissued a “buy” rating and set a $108.00 target price on shares of Merit Medical Systems in a research note on Friday, October 31st. Raymond James Financial cut their price target 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $106.50.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $88.47 on Wednesday. The company has a market capitalization of $5.24 billion, a PE ratio of 44.91, a P/E/G ratio of 2.62 and a beta of 0.58. 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 company has a 50-day simple moving average of $84.83 and a 200-day simple moving average of $89.15. Merit Medical Systems, Inc. has a 52-week low of $78.12 and a 52-week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share 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 $384.20 million during the quarter, compared to the consensus estimate of $371.69 million. During the same period last year, the business posted $0.86 EPS. Merit Medical Systems’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. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

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.