42,347 Shares in Merit Medical Systems, Inc. $MMSI Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd bought a new stake in Merit Medical Systems, purchasing 42,347 shares worth about $2.9 million in the first quarter, according to its latest SEC filing.
• Merit Medical Systems reported strong quarterly results, with earnings per share of $0.94 beating estimates and revenue of $381.88 million rising 7.4% year over year.
• Analysts remain mostly positive despite some lower price targets, with the stock carrying a Moderate Buy consensus and a median price target of $92.80.

Y Intercept Hong Kong Ltd bought a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 42,347 shares of the medical instruments supplier's stock, valued at approximately $2,919,000. Y Intercept Hong Kong Ltd owned approximately 0.07% of Merit Medical Systems as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Tudor Investment Corp ET AL bought a new position in Merit Medical Systems during the 3rd quarter valued at $2,913,050,000. Wellington Management Group LLP increased its position in shares of Merit Medical Systems by 377.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier's stock worth $103,248,000 after purchasing an additional 980,823 shares during the last quarter. Norges Bank acquired a new stake in shares of Merit Medical Systems in the 4th quarter valued at about $75,957,000. Iron Triangle Partners LP acquired a new stake in shares of Merit Medical Systems in the 4th quarter valued at about $33,992,000. Finally, Champlain Investment Partners LLC bought a new position in shares of Merit Medical Systems during the fourth quarter worth about $32,359,000. Institutional investors and hedge funds own 99.66% of the company's stock.

Merit Medical Systems Trading Up 1.0%

NASDAQ:MMSI opened at $72.14 on Wednesday. The firm has a market capitalization of $4.30 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.22 and a beta of 0.52. The business has a 50 day simple moving average of $65.57 and a 200 day simple moving average of $73.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.08 and a quick ratio of 3.46. Merit Medical Systems, Inc. has a 12-month low of $59.74 and a 12-month high of $96.74.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.10. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The firm had revenue of $381.88 million for the quarter, compared to analyst estimates of $377.59 million. During the same period last year, the company earned $0.86 earnings per share. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MMSI. Piper Sandler lowered their price objective on Merit Medical Systems from $106.00 to $96.00 and set an "overweight" rating for the company in a report on Friday, April 17th. Wells Fargo & Company decreased their target price on Merit Medical Systems from $78.00 to $74.00 and set an "equal weight" rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on Merit Medical Systems from $95.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, May 1st. Barrington Research reduced their price objective on Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating on the stock in a research note on Monday, April 20th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Merit Medical Systems in a report on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.80.

Insider Activity

In other Merit Medical Systems news, Director Lynne N. Ward sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $62.61, for a total value of $313,050.00. Following the sale, the director owned 7,809 shares in the company, valued at approximately $488,921.49. This trade represents a 39.04% 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. Also, insider Brian G. Lloyd purchased 2,000 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were acquired at an average cost of $62.62 per share, for a total transaction of $125,240.00. Following the acquisition, the insider owned 2,000 shares of the company's stock, valued at approximately $125,240. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is currently owned by corporate insiders.

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.

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