861,781 Shares in Merit Medical Systems, Inc. $MMSI Purchased by Norges Bank

Key Points

• Norges Bank opened a new stake in Merit Medical Systems, buying 861,781 shares worth about $75.96 million in the fourth quarter, or roughly 1.45% of the company.
• Merit Medical Systems recently beat quarterly earnings and revenue estimates, reporting $0.94 EPS versus $0.84 expected and $381.88 million in revenue, up 7.4% year over year.
• Analyst sentiment remains mostly positive, with the stock carrying a Moderate Buy consensus and a $92.80 average price target, though some firms have recently cut targets and Weiss Ratings downgraded the stock to sell.

Norges Bank acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 861,781 shares of the medical instruments supplier's stock, valued at approximately $75,957,000. Norges Bank owned approximately 1.45% of Merit Medical Systems at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMSI. Blue Trust Inc. grew its holdings in Merit Medical Systems by 11.0% in the 4th quarter. Blue Trust Inc. now owns 1,853 shares of the medical instruments supplier's stock valued at $163,000 after buying an additional 184 shares during the period. First Horizon Corp grew its holdings in Merit Medical Systems by 19.7% in the 4th quarter. First Horizon Corp now owns 1,117 shares of the medical instruments supplier's stock valued at $98,000 after buying an additional 184 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Merit Medical Systems by 0.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 50,667 shares of the medical instruments supplier's stock valued at $4,095,000 after buying an additional 189 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Merit Medical Systems by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,562 shares of the medical instruments supplier's stock valued at $1,195,000 after buying an additional 200 shares during the period. Finally, Arizona State Retirement System grew its holdings in Merit Medical Systems by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 17,477 shares of the medical instruments supplier's stock valued at $1,455,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 99.66% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Barrington Research lowered their price target on Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating for the company in a report on Monday, April 20th. Weiss Ratings lowered Merit Medical Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. Piper Sandler reduced their price objective on Merit Medical Systems from $106.00 to $96.00 and set an "overweight" rating on the stock in a research note on Friday, April 17th. JPMorgan Chase & Co. reduced their price objective on Merit Medical Systems from $95.00 to $77.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Finally, Compass Point set a $107.00 price objective on Merit Medical Systems in a research note on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.80.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $64.48 on Friday. The firm has a market capitalization of $3.85 billion, a P/E ratio of 27.91, a P/E/G ratio of 2.01 and a beta of 0.54. Merit Medical Systems, Inc. has a 1-year low of $59.74 and a 1-year high of $96.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.08 and a quick ratio of 3.46. The business's 50-day simple moving average is $65.76 and its 200-day simple moving average is $76.06.

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

Insider Activity

In related news, insider Brian G. Lloyd purchased 2,000 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, May 7th. The shares were purchased at an average cost of $62.62 per share, with a total value of $125,240.00. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lynne N. Ward sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $62.61, for a total value of $313,050.00. Following the transaction, the director directly owned 7,809 shares in the company, valued at $488,921.49. This trade represents a 39.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.70% of the company's stock.

Merit Medical Systems Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.