Citigroup Inc. Sells 33,750 Shares of Merit Medical Systems, Inc. $MMSI

Citigroup Inc. reduced its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 58.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,585 shares of the medical instruments supplier’s stock after selling 33,750 shares during the quarter. Citigroup Inc.’s holdings in Merit Medical Systems were worth $1,963,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its holdings in shares of Merit Medical Systems by 2.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,973 shares of the medical instruments supplier’s stock worth $558,000 after purchasing an additional 131 shares during the period. Norden Group LLC raised its position in shares of Merit Medical Systems by 5.7% during the third quarter. Norden Group LLC now owns 2,536 shares of the medical instruments supplier’s stock valued at $211,000 after buying an additional 137 shares during the last quarter. Bryn Mawr Trust Advisors LLC lifted its stake in shares of Merit Medical Systems by 7.2% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 2,225 shares of the medical instruments supplier’s stock valued at $208,000 after buying an additional 149 shares during the period. Hilltop National Bank lifted its stake in shares of Merit Medical Systems by 8.7% in the third quarter. Hilltop National Bank now owns 2,119 shares of the medical instruments supplier’s stock valued at $176,000 after buying an additional 169 shares during the period. Finally, Sowell Financial Services LLC grew its position in Merit Medical Systems by 4.2% during the third quarter. Sowell Financial Services LLC now owns 4,355 shares of the medical instruments supplier’s stock worth $362,000 after buying an additional 174 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MMSI has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a research note on Monday, December 29th. Barrington Research raised their price objective on Merit Medical Systems from $106.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Robert W. Baird set a $108.00 price objective on Merit Medical Systems in a report on Tuesday, December 16th. Canaccord Genuity Group boosted their price objective on Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Zacks Research lowered Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.33.

Merit Medical Systems Trading Down 1.1%

Shares of Merit Medical Systems stock opened at $72.66 on Monday. Merit Medical Systems, Inc. has a 12-month low of $71.14 and a 12-month high of $107.27. The stock has a market capitalization of $4.32 billion, a P/E ratio of 34.27, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62. The company has a 50-day simple moving average of $82.20 and a 200 day simple moving average of $84.42. The company has a quick ratio of 2.95, a current ratio of 4.34 and a debt-to-equity ratio of 0.46.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Tuesday, February 24th. The medical instruments supplier reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. The firm had revenue of $393.94 million for the quarter, compared to analyst estimates of $390.77 million. Merit Medical Systems had a net margin of 8.48% and a return on equity of 13.82%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Research analysts expect that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal 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.