Fort Washington Investment Advisors Inc. OH Buys 123,912 Shares of Merit Medical Systems, Inc. $MMSI

Fort Washington Investment Advisors Inc. OH grew its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 69.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 301,718 shares of the medical instruments supplier’s stock after buying an additional 123,912 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.51% of Merit Medical Systems worth $25,112,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Sowell Financial Services LLC raised its holdings in Merit Medical Systems by 4.2% in the 3rd quarter. Sowell Financial Services LLC now owns 4,355 shares of the medical instruments supplier’s stock valued at $362,000 after acquiring an additional 174 shares in the last quarter. CWM LLC increased its position in shares of Merit Medical Systems by 12.9% during the third quarter. CWM LLC now owns 2,072 shares of the medical instruments supplier’s stock valued at $172,000 after purchasing an additional 237 shares during the period. ZWJ Investment Counsel Inc. increased its position in shares of Merit Medical Systems by 26.0% during the third quarter. ZWJ Investment Counsel Inc. now owns 2,804 shares of the medical instruments supplier’s stock valued at $233,000 after purchasing an additional 579 shares during the period. Norden Group LLC raised its stake in shares of Merit Medical Systems by 5.7% in the third quarter. Norden Group LLC now owns 2,536 shares of the medical instruments supplier’s stock valued at $211,000 after purchasing an additional 137 shares in the last quarter. Finally, Brookstone Capital Management bought a new position in Merit Medical Systems in the third quarter worth $574,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total value of $880,400.00. Following the completion of the sale, the chairman directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Insiders 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 corporate insiders.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $88.56 on Wednesday. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 45.42, a P/E/G ratio of 2.82 and a beta of 0.61. The firm’s 50-day moving average price is $86.06 and its two-hundred day moving average price is $86.72. The company has a current ratio of 4.28, a quick ratio of 2.86 and a debt-to-equity ratio of 0.48. Merit Medical Systems, Inc. has a 1-year low of $78.12 and a 1-year high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results 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. Merit Medical Systems had a return on equity of 14.27% and a net margin of 8.02%.The business had revenue of $384.16 million for the quarter, compared to the consensus estimate of $371.69 million. During the same period in the previous year, the business earned $0.86 EPS. Merit Medical Systems’s revenue 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. On average, equities analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MMSI. Canaccord Genuity Group increased their price objective on shares of Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Piper Sandler reissued an “overweight” rating and issued a $109.00 target price (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Barrington Research restated an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a research note on Friday, November 14th. Zacks Research downgraded Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Wells Fargo & Company dropped their target price on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.88.

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.