Journey Strategic Wealth LLC Takes Position in Merit Medical Systems, Inc. $MMSI

Journey Strategic Wealth LLC purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,600 shares of the medical instruments supplier’s stock, valued at approximately $243,000.

A number of other hedge funds also recently made changes to their positions in MMSI. CWM LLC boosted its position in shares of Merit Medical Systems by 134.5% during the 1st quarter. CWM LLC now owns 1,782 shares of the medical instruments supplier’s stock valued at $188,000 after acquiring an additional 1,022 shares in the last quarter. IFP Advisors Inc raised its position in Merit Medical Systems by 1,435.0% in the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 287 shares in the last quarter. Allianz Asset Management GmbH bought a new position in Merit Medical Systems during the first quarter worth about $1,178,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Merit Medical Systems during the first quarter valued at approximately $4,514,000. Finally, Cetera Investment Advisers boosted its holdings in Merit Medical Systems by 11.5% during the first quarter. Cetera Investment Advisers now owns 11,253 shares of the medical instruments supplier’s stock valued at $1,190,000 after purchasing an additional 1,160 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of recent research reports. Barrington Research reissued an “outperform” rating and issued a $106.00 target price on shares of Merit Medical Systems in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday, November 17th. Needham & Company LLC restated a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a research note on Friday, October 31st. Robert W. Baird set a $103.00 target price on shares of Merit Medical Systems in a research report on Friday, October 31st. Finally, Zacks Research downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.50.

Merit Medical Systems Stock Down 0.0%

Merit Medical Systems stock opened at $87.17 on Tuesday. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 2.62 and a beta of 0.64. The company’s 50 day simple moving average is $83.89 and its 200 day simple moving average is $88.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. Merit Medical Systems, Inc. has a fifty-two week low of $78.12 and a fifty-two week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping 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 8.31% and a return on equity of 15.07%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. As a group, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Buying and Selling

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 25,000 shares of Merit Medical Systems stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $87.31, for a total transaction of $2,182,750.00. Following the transaction, the chairman directly owned 1,029,955 shares in the company, valued at approximately $89,925,371.05. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 50,000 shares of company stock worth $4,309,500. Company insiders own 3.20% of the company’s stock.

Merit Medical Systems Company 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.