Amundi Purchases 2,847 Shares of Merit Medical Systems, Inc. $MMSI

Key Points

• Amundi increased its holdings in Merit Medical Systems by 2.2% during the first quarter, owning approximately $13.80 million worth of shares.
• Several hedge funds, including IFP Advisors Inc and Versant Capital Management Inc, significantly boosted their stakes in Merit Medical Systems during the same period.
• Merit Medical Systems reported earnings of $1.01 per share, exceeding analysts' expectations, along with a revenue increase of 13.2% year-over-year for the quarter.

Amundi increased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 132,780 shares of the medical instruments supplier's stock after buying an additional 2,847 shares during the period. Amundi owned 0.22% of Merit Medical Systems worth $13,804,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MMSI. Evergreen Capital Management LLC raised its stake in Merit Medical Systems by 2.4% in the 1st quarter. Evergreen Capital Management LLC now owns 4,616 shares of the medical instruments supplier's stock worth $488,000 after purchasing an additional 108 shares in the last quarter. US Bancorp DE raised its position in shares of Merit Medical Systems by 3.8% in the 1st quarter. US Bancorp DE now owns 3,936 shares of the medical instruments supplier's stock valued at $416,000 after buying an additional 145 shares in the last quarter. Westover Capital Advisors LLC raised its position in shares of Merit Medical Systems by 2.6% in the 1st quarter. Westover Capital Advisors LLC now owns 6,728 shares of the medical instruments supplier's stock valued at $711,000 after buying an additional 168 shares in the last quarter. MeadowBrook Investment Advisors LLC raised its position in shares of Merit Medical Systems by 5.9% in the 1st quarter. MeadowBrook Investment Advisors LLC now owns 3,065 shares of the medical instruments supplier's stock valued at $324,000 after buying an additional 170 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Merit Medical Systems by 119.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock valued at $39,000 after buying an additional 200 shares in the last quarter. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock traded down $4.68 during midday trading on Friday, hitting $85.53. 700,190 shares of the company traded hands, compared to its average volume of 480,356. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 43.42, a PEG ratio of 3.04 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. The firm's fifty day moving average price is $87.85 and its 200-day moving average price is $93.37. Merit Medical Systems, Inc. has a 12 month low of $81.04 and a 12 month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.16. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The firm had revenue of $382.46 million for the quarter, compared to analyst estimates of $372.47 million. During the same period in the previous year, the firm posted $0.92 EPS. The company's revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insider Activity at Merit Medical Systems

In other news, Director Lynne N. Ward sold 3,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the sale, the director directly owned 12,809 shares of the company's stock, valued at approximately $1,134,365.04. This represents a 18.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MMSI shares. Piper Sandler dropped their target price on shares of Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Raymond James Financial dropped their target price on shares of Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Barrington Research restated an "outperform" rating and issued a $103.00 target price on shares of Merit Medical Systems in a research report on Thursday, July 31st. Needham & Company LLC restated a "buy" rating and issued a $108.00 target price on shares of Merit Medical Systems in a research report on Friday, July 18th. Finally, Canaccord Genuity Group set a $112.00 target price on shares of Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $107.00.

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.