Emerald Mutual Fund Advisers Trust Sells 10,002 Shares of Merit Medical Systems, Inc. $MMSI

Emerald Mutual Fund Advisers Trust cut its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,730 shares of the medical instruments supplier’s stock after selling 10,002 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.28% of Merit Medical Systems worth $13,794,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMSI. Norges Bank bought a new stake in Merit Medical Systems in the second quarter worth about $53,697,000. Franklin Resources Inc. lifted its stake in shares of Merit Medical Systems by 25.9% during the 2nd quarter. Franklin Resources Inc. now owns 884,607 shares of the medical instruments supplier’s stock worth $82,693,000 after acquiring an additional 181,815 shares during the last quarter. Greenhouse Funds LLLP lifted its stake in shares of Merit Medical Systems by 44.2% during the 2nd quarter. Greenhouse Funds LLLP now owns 587,912 shares of the medical instruments supplier’s stock worth $54,958,000 after acquiring an additional 180,125 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Merit Medical Systems by 57.9% during the 3rd quarter. Voya Investment Management LLC now owns 489,504 shares of the medical instruments supplier’s stock valued at $40,741,000 after acquiring an additional 179,401 shares during the period. Finally, William Blair Investment Management LLC grew its position in Merit Medical Systems by 22.9% in the 2nd quarter. William Blair Investment Management LLC now owns 739,600 shares of the medical instruments supplier’s stock valued at $69,138,000 after acquiring an additional 137,956 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Robert W. Baird set a $108.00 target price on Merit Medical Systems in a research report on Tuesday, December 16th. Wells Fargo & Company decreased their price objective on shares of Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Piper Sandler reissued an “overweight” rating and issued a $109.00 price objective (up from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Barrington Research reaffirmed an “outperform” rating and set a $106.00 target price on shares of Merit Medical Systems in a research report on Friday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price target on shares of Merit Medical Systems in a report on Friday, January 9th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.88.

Merit Medical Systems Trading Down 0.1%

NASDAQ:MMSI opened at $83.39 on Friday. The firm has a 50-day simple moving average of $86.02 and a 200-day simple moving average of $85.92. Merit Medical Systems, Inc. has a one year low of $78.12 and a one year high of $111.45. The firm has a market cap of $4.94 billion, a P/E ratio of 42.76, a P/E/G ratio of 2.27 and a beta of 0.62. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.86 and a current ratio of 4.28.

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

Insider Activity at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 25,000 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $87.31, for a total value of $2,182,750.00. Following the completion of the transaction, the chairman directly owned 1,029,955 shares of the company’s stock, valued at approximately $89,925,371.05. The trade was a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 60,000 shares of company stock valued at $5,189,900. Insiders own 3.20% of the company’s stock.

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.