Emerald Advisers LLC Sells 11,168 Shares of Merit Medical Systems, Inc. $MMSI

Emerald Advisers LLC reduced its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,622 shares of the medical instruments supplier’s stock after selling 11,168 shares during the period. Emerald Advisers LLC owned 0.47% of Merit Medical Systems worth $23,356,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MMSI. Assenagon Asset Management S.A. purchased a new stake in Merit Medical Systems during the 3rd quarter valued at approximately $1,644,000. Norges Bank purchased a new position in shares of Merit Medical Systems in the second quarter worth $53,697,000. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Merit Medical Systems by 69.7% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 301,718 shares of the medical instruments supplier’s stock worth $25,112,000 after acquiring an additional 123,912 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in Merit Medical Systems by 11.9% during the second quarter. Westwood Holdings Group Inc. now owns 768,970 shares of the medical instruments supplier’s stock valued at $71,883,000 after acquiring an additional 81,469 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Merit Medical Systems by 5.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 244,163 shares of the medical instruments supplier’s stock valued at $22,824,000 after acquiring an additional 12,256 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on MMSI shares. Robert W. Baird set a $108.00 price objective on shares of Merit Medical Systems in a report on Tuesday, December 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $109.00 target price (up from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. Wells Fargo & Company dropped their price target 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. Canaccord Genuity Group raised their price target on Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $106.00 price objective on shares of Merit Medical Systems in a research note on Friday, November 14th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.88.

Insider Buying and Selling at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total transaction of $880,400.00. Following the completion of the sale, the chairman directly owned 1,019,955 shares of the company’s stock, valued at approximately $89,796,838.20. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 60,000 shares of company stock valued at $5,189,900 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Merit Medical Systems Trading Up 2.1%

MMSI stock opened at $83.45 on Thursday. Merit Medical Systems, Inc. has a twelve month low of $78.12 and a twelve month high of $111.45. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 42.79, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62. 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’s fifty day simple moving average is $86.10 and its two-hundred day simple moving average is $85.94.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. The firm had revenue of $384.16 million during the quarter, compared to analysts’ expectations of $371.69 million. Merit Medical Systems had a net margin of 8.02% and a return on equity of 14.27%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

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.