Thrivent Financial for Lutherans Has $20 Million Holdings in Merit Medical Systems, Inc. $MMSI

Thrivent Financial for Lutherans boosted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 30.8% in the second quarter, Holdings Channel.com reports. The firm owned 213,994 shares of the medical instruments supplier’s stock after acquiring an additional 50,443 shares during the period. Thrivent Financial for Lutherans’ holdings in Merit Medical Systems were worth $20,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MMSI. Maseco LLP acquired a new position in shares of Merit Medical Systems during the second quarter worth about $28,000. MassMutual Private Wealth & Trust FSB boosted its position in Merit Medical Systems by 55.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 134 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew 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 worth $39,000 after acquiring an additional 200 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Merit Medical Systems in the first quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Merit Medical Systems by 745.9% in the second quarter. EverSource Wealth Advisors LLC now owns 922 shares of the medical instruments supplier’s stock worth $86,000 after purchasing an additional 813 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Activity at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 25,000 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $87.31, for a total value of $2,182,750.00. Following the transaction, the chairman directly owned 1,029,955 shares of the company’s stock, valued at $89,925,371.05. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 60,000 shares of company stock valued at $5,189,900 in the last 90 days. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MMSI shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a research report on Friday, October 31st. Robert W. Baird set a $108.00 target price on Merit Medical Systems in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Merit Medical Systems in a research report on Monday. Canaccord Genuity Group decreased their price target on Merit Medical Systems from $104.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Finally, Barrington Research reiterated an “outperform” rating and set a $106.00 price objective on shares of Merit Medical Systems in a research note on Friday, November 14th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.13.

Merit Medical Systems Price Performance

NASDAQ:MMSI opened at $86.85 on Wednesday. Merit Medical Systems, Inc. has a 12-month low of $78.12 and a 12-month high of $111.45. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 44.54, a P/E/G ratio of 2.76 and a beta of 0.61. The stock’s 50 day moving average price is $84.84 and its two-hundred day moving average price is $87.19. The company has a quick ratio of 2.86, a current ratio of 4.28 and a debt-to-equity ratio of 0.48.

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 analysts’ consensus estimates of $0.82 by $0.10. Merit Medical Systems had a return on equity of 14.27% and a net margin of 8.02%.The business had revenue of $384.16 million for the quarter, compared to analyst estimates of $371.69 million. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s 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. On average, analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

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.