Merit Medical Systems, Inc. $MMSI Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,448 shares of the medical instruments supplier’s stock after purchasing an additional 1,234 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.05% of Merit Medical Systems worth $2,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Amundi grew its position in Merit Medical Systems by 2.2% during the first quarter. Amundi now owns 132,780 shares of the medical instruments supplier’s stock valued at $13,804,000 after purchasing an additional 2,847 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Merit Medical Systems by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 260,084 shares of the medical instruments supplier’s stock valued at $27,493,000 after buying an additional 34,448 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 200 shares during the period. Fred Alger Management LLC grew its holdings in shares of Merit Medical Systems by 22.9% during the 1st quarter. Fred Alger Management LLC now owns 154,707 shares of the medical instruments supplier’s stock valued at $16,354,000 after acquiring an additional 28,793 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Merit Medical Systems by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,967 shares of the medical instruments supplier’s stock worth $3,908,000 after acquiring an additional 1,436 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MMSI shares. Zacks Research raised Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Canaccord Genuity Group increased their price target on shares of Merit Medical Systems from $103.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Needham & Company LLC restated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Friday, October 31st. Robert W. Baird set a $103.00 price objective on shares of Merit Medical Systems in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $106.50.

Merit Medical Systems Trading Down 0.8%

Merit Medical Systems stock opened at $87.40 on Friday. The business has a 50 day moving average price of $84.42 and a two-hundred day moving average price of $88.96. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. Merit Medical Systems, Inc. has a 12 month low of $78.12 and a 12 month high of $111.45. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 44.37, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI) last issued 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 15.07% and a net margin of 8.31%.The firm had revenue of $384.16 million during the quarter, compared to analysts’ expectations of $371.69 million. During the same period last year, the business earned $0.86 earnings per share. Merit Medical Systems’s quarterly 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. As a group, equities analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Buying and Selling

In related news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the sale, the director directly owned 12,809 shares in the company, valued at $1,134,365.04. This trade represents a 18.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.