Allspring Global Investments Holdings LLC Sells 32,413 Shares of Merit Medical Systems, Inc. $MMSI

Allspring Global Investments Holdings LLC cut its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 75.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,751 shares of the medical instruments supplier’s stock after selling 32,413 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Merit Medical Systems were worth $734,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State Street Corp lifted its position in shares of Merit Medical Systems by 1.5% during the 4th quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier’s stock worth $196,645,000 after buying an additional 32,459 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Merit Medical Systems by 3.9% in the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock worth $149,407,000 after acquiring an additional 81,030 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Merit Medical Systems by 12.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,796 shares of the medical instruments supplier’s stock valued at $183,137,000 after purchasing an additional 234,682 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Merit Medical Systems by 7.0% during the 4th quarter. Wellington Management Group LLP now owns 1,327,013 shares of the medical instruments supplier’s stock valued at $116,963,000 after purchasing an additional 86,504 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Merit Medical Systems by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,225,013 shares of the medical instruments supplier’s stock worth $107,974,000 after purchasing an additional 47,151 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Activity

In other news, Director Lynne N. Ward sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $62.61, for a total transaction of $313,050.00. Following the transaction, the director owned 7,809 shares in the company, valued at approximately $488,921.49. This represents a 39.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian G. Lloyd bought 2,000 shares of Merit Medical Systems stock in a transaction dated Thursday, May 7th. The stock was purchased at an average price of $62.62 per share, with a total value of $125,240.00. Following the completion of the purchase, the insider owned 2,000 shares in the company, valued at $125,240. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MMSI has been the topic of a number of research analyst reports. Robert W. Baird set a $83.00 target price on shares of Merit Medical Systems in a research report on Friday, May 1st. Canaccord Genuity Group dropped their price target on Merit Medical Systems from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Citigroup reissued an “outperform” rating on shares of Merit Medical Systems in a report on Monday, April 20th. Piper Sandler restated an “overweight” rating on shares of Merit Medical Systems in a research report on Friday, July 10th. Finally, Wall Street Zen cut Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 5th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $92.80.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $76.10 on Tuesday. The stock has a market capitalization of $4.54 billion, a PE ratio of 32.94, a PEG ratio of 2.31 and a beta of 0.52. The business’s 50 day simple moving average is $68.44 and its 200 day simple moving average is $71.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.08 and a quick ratio of 3.46. Merit Medical Systems, Inc. has a one year low of $59.74 and a one year high of $94.75.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.10. The firm had revenue of $381.88 million during the quarter, compared to analyst estimates of $377.59 million. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. As a group, research analysts forecast that Merit Medical Systems, Inc. will post 3.62 earnings per share for the current year.

Merit Medical Systems Company 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.