Merit Medical Systems, Inc. $MMSI Shares Purchased by Renaissance Group LLC

Renaissance Group LLC boosted its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 29.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,253 shares of the medical instruments supplier’s stock after acquiring an additional 15,185 shares during the quarter. Renaissance Group LLC owned about 0.11% of Merit Medical Systems worth $6,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC grew its holdings in shares of Merit Medical Systems by 2.4% during the 1st quarter. Evergreen Capital Management LLC now owns 4,616 shares of the medical instruments supplier’s stock worth $488,000 after purchasing an additional 108 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Merit Medical Systems by 55.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after buying an additional 134 shares during the last quarter. US Bancorp DE boosted its stake in Merit Medical Systems by 3.8% during the first quarter. US Bancorp DE now owns 3,936 shares of the medical instruments supplier’s stock worth $416,000 after buying an additional 145 shares during the period. Bryn Mawr Trust Advisors LLC increased its position in shares of Merit Medical Systems by 7.2% during 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 acquiring an additional 149 shares during the last quarter. Finally, SageView Advisory Group LLC lifted its holdings in shares of Merit Medical Systems by 3.1% in the 1st quarter. SageView Advisory Group LLC now owns 5,065 shares of the medical instruments supplier’s stock worth $535,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Down 1.9%

Shares of Merit Medical Systems stock opened at $84.17 on Wednesday. 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 52-week low of $78.12 and a 52-week high of $111.45. The company has a market capitalization of $4.99 billion, a P/E ratio of 42.73, a P/E/G ratio of 2.62 and a beta of 0.64. The company has a 50 day moving average of $83.98 and a 200 day moving average of $88.67.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. The business 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 8.31% and a return on equity of 15.07%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, research analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Insider Transactions at Merit Medical Systems

In other news, Director Lynne N. Ward sold 3,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following the completion of the transaction, the director directly owned 12,809 shares of the company’s stock, valued at approximately $1,134,365.04. This represents a 18.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MMSI shares. Piper Sandler restated an “overweight” rating and set a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday. Robert W. Baird set a $103.00 price target on shares of Merit Medical Systems in a research note on Friday, October 31st. Canaccord Genuity Group reduced their price target on shares of Merit Medical Systems from $104.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Finally, Raymond James Financial dropped their price objective on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $104.50.

Merit Medical Systems Profile

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.