CreativeOne Wealth LLC Grows Position in Merit Medical Systems, Inc. $MMSI

Key Points

• CreativeOne Wealth LLC increased its stake in Merit Medical Systems by 35.8% in the first quarter, now owning 20,953 shares valued at approximately $2.22 million.
• Merit Medical Systems reported a net margin of 8.31% and a year-over-year revenue growth of 13.2% for the last quarter, beating analysts' expectations.
• A consensus price target for Merit Medical Systems is $107.00, with the majority of analysts rating the stock as a "Moderate Buy".

CreativeOne Wealth LLC lifted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 35.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,953 shares of the medical instruments supplier's stock after purchasing an additional 5,520 shares during the period. CreativeOne Wealth LLC's holdings in Merit Medical Systems were worth $2,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the first quarter valued at about $31,000. IFP Advisors Inc lifted its stake in shares of Merit Medical Systems by 1,435.0% in the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock valued at $32,000 after purchasing an additional 287 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Merit Medical Systems by 119.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock valued at $39,000 after purchasing an additional 200 shares during the period. Bayforest Capital Ltd purchased a new position in Merit Medical Systems during the 1st quarter valued at about $41,000. Finally, Versant Capital Management Inc increased its holdings in Merit Medical Systems by 1,518.5% during the 1st quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock valued at $46,000 after acquiring an additional 410 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company's stock.

Insider Activity at Merit Medical Systems

In related news, CEO Fred P. Lampropoulos sold 400 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $95.61, for a total value of $38,244.00. Following the completion of the sale, the chief executive officer directly owned 1,045,628 shares in the company, valued at approximately $99,972,493.08. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynne N. Ward sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the completion of the sale, the director owned 12,809 shares of the company's stock, valued at approximately $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,014 shares of company stock worth $1,933,680. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Canaccord Genuity Group set a $112.00 target price on shares of Merit Medical Systems and gave the company a "buy" rating in a report on Wednesday, May 21st. 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 report on Thursday, July 31st. Barrington Research restated an "outperform" rating and set a $103.00 target price on shares of Merit Medical Systems in a report on Thursday, July 31st. 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 report on Thursday, July 31st. Finally, Needham & Company LLC restated a "buy" rating and set a $108.00 target price on shares of Merit Medical Systems in a report on Friday, July 18th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.00.

Merit Medical Systems Trading Down 1.0%

Shares of NASDAQ MMSI traded down $0.89 during midday trading on Wednesday, reaching $89.79. 133,046 shares of the stock were exchanged, compared to its average volume of 643,293. The company has a market capitalization of $5.32 billion, a P/E ratio of 45.58, a P/E/G ratio of 2.93 and a beta of 0.64. Merit Medical Systems, Inc. has a 52-week low of $81.04 and a 52-week high of $111.45. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $88.32 and a 200-day moving average price of $94.12.

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

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.