Fisher Asset Management LLC Reduces Stock Holdings in Merit Medical Systems, Inc. $MMSI

Fisher Asset Management LLC cut its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 215,445 shares of the medical instruments supplier’s stock after selling 6,852 shares during the quarter. Fisher Asset Management LLC owned about 0.36% of Merit Medical Systems worth $20,140,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Maseco LLP acquired a new position in shares of Merit Medical Systems during the second quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. grew its position in 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 worth $39,000 after purchasing an additional 200 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Merit Medical Systems by 55.6% during the 2nd 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 in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Merit Medical Systems in the first quarter worth $41,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Merit Medical Systems during the first quarter worth $60,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Down 0.1%

Merit Medical Systems stock opened at $84.29 on Thursday. The business’s 50-day moving average price is $84.30 and its 200 day moving average price is $87.94. The company has a quick ratio of 2.86, a current ratio of 4.28 and a debt-to-equity ratio of 0.48. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 43.23, a price-to-earnings-growth ratio of 2.77 and a beta of 0.61. 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 EPS for the quarter, topping the consensus estimate of $0.82 by $0.10. The business had revenue of $384.16 million for the quarter, compared to analyst estimates of $371.69 million. Merit Medical Systems had a return on equity of 14.27% and a net margin of 8.02%.The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $88.04, for a total transaction of $880,400.00. Following the sale, the chairman owned 1,019,955 shares in the company, valued at approximately $89,796,838.20. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 60,000 shares of company stock worth $5,189,900 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, October 31st. Wells Fargo & Company reduced their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, November 14th. Zacks Research lowered Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $109.00 price target (up previously from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $104.50.

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.