Mountain Pacific Investment Advisers LLC Reduces Stock Position in Merit Medical Systems, Inc. $MMSI

Mountain Pacific Investment Advisers LLC cut its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 92.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,848 shares of the medical instruments supplier’s stock after selling 87,118 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Merit Medical Systems were worth $570,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Maseco LLP bought a new position in Merit Medical Systems in the 2nd quarter worth about $28,000. Salomon & Ludwin LLC purchased a new stake in shares of Merit Medical Systems in the third quarter worth about $37,000. EverSource Wealth Advisors LLC boosted 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 valued at $86,000 after acquiring an additional 813 shares during the period. First Horizon Corp purchased a new position in Merit Medical Systems during the third quarter valued at approximately $78,000. Finally, Palouse Capital Management Inc. increased its holdings in Merit Medical Systems by 27.5% during the 3rd quarter. Palouse Capital Management Inc. now owns 1,076 shares of the medical instruments supplier’s stock worth $90,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MMSI. Robert W. Baird set a $108.00 price target on shares of Merit Medical Systems in a report on Tuesday, December 16th. Barrington Research reissued an “outperform” rating and set a $106.00 price objective on shares of Merit Medical Systems in a research note on Friday, November 14th. Wells Fargo & Company reduced their target price on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 price target on shares of Merit Medical Systems in a report on Friday, January 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $109.00 price target (up previously from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. 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 stock has an average rating of “Moderate Buy” and a consensus price target of $105.88.

Insider Buying and Selling at Merit Medical Systems

In related news, Chairman Fred P. Lampropoulos sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total value of $880,400.00. Following the sale, the chairman directly owned 1,019,955 shares of the company’s stock, valued at $89,796,838.20. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 60,000 shares of company stock worth $5,189,900 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $83.45 on Thursday. 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, Inc. has a 52 week low of $78.12 and a 52 week high of $111.45. The stock has a market cap of $4.95 billion, a PE ratio of 42.79, a PEG ratio of 2.22 and a beta of 0.62. The company’s fifty day moving average is $86.10 and its 200 day moving average is $85.94.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. The company had revenue of $384.16 million during the quarter, compared to analyst estimates of $371.69 million. Merit Medical Systems had a net margin of 8.02% and a return on equity of 14.27%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. Research analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

About Merit Medical Systems

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.