Bessemer Group Inc. Trims Position in Merit Medical Systems, Inc. $MMSI

Key Points

• Bessemer Group Inc. cut its Merit Medical Systems stake by 23.2% in the first quarter, selling 72,753 shares and leaving it with 241,228 shares valued at about $16.6 million.
• Merit Medical Systems recently beat earnings expectations, reporting $0.94 EPS versus the $0.84 consensus, while revenue rose 7.4% year over year to $381.9 million.
• Wall Street remains mostly positive on MMSI, with eight Buy ratings and a consensus “Moderate Buy” view, though one analyst recently downgraded the stock to Sell and JPMorgan trimmed its price target to $77.

Bessemer Group Inc. trimmed its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 23.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 241,228 shares of the medical instruments supplier's stock after selling 72,753 shares during the period. Bessemer Group Inc. owned about 0.40% of Merit Medical Systems worth $16,629,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter valued at about $25,000. Maseco LLP purchased a new position in shares of Merit Medical Systems in the fourth quarter worth approximately $26,000. Torren Management LLC purchased a new position in shares of Merit Medical Systems in the fourth quarter worth approximately $38,000. Covestor Ltd grew its position in Merit Medical Systems by 252.6% during the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier's stock valued at $41,000 after buying an additional 336 shares during the period. Finally, Danske Bank A S bought a new stake in Merit Medical Systems during the third quarter valued at approximately $42,000. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $73.99 on Friday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 2.30 and a beta of 0.52. The company has a quick ratio of 3.46, a current ratio of 5.08 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $66.96 and a 200-day moving average price of $72.63. Merit Medical Systems, Inc. has a twelve month low of $59.74 and a twelve month high of $94.75.

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 (EPS) for the quarter, beating 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 company had revenue of $381.88 million for the quarter, compared to the consensus estimate of $377.59 million. During the same quarter last year, the company earned $0.86 EPS. The firm's quarterly revenue 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. As a group, equities research analysts predict that Merit Medical Systems, Inc. will post 3.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of research reports. Piper Sandler reaffirmed an "overweight" rating on shares of Merit Medical Systems in a report on Friday, July 10th. JPMorgan Chase & Co. dropped their price target on shares of 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. Citigroup reissued an "outperform" rating on shares of Merit Medical Systems in a research report on Monday, April 20th. Compass Point set a $107.00 price objective on Merit Medical Systems in a research note on Monday, April 20th. Finally, Weiss Ratings cut Merit Medical Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and an average price target of $92.80.

Insider Activity at Merit Medical Systems

In related news, Director Lynne N. Ward sold 5,000 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $62.61, for a total transaction of $313,050.00. Following the completion of the transaction, the director owned 7,809 shares in the company, valued at approximately $488,921.49. This represents a 39.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian G. Lloyd bought 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average cost of $62.62 per share, with a total value of $125,240.00. Following the completion of the purchase, the insider directly owned 2,000 shares of the company's stock, valued at $125,240. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.70% of the company's stock.

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.

Want to see what other hedge funds are holding MMSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report).

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.