Driehaus Capital Management LLC Has $24.08 Million Stock Position in Merit Medical Systems, Inc. $MMSI

Key Points

• Driehaus Capital Management LLC increased its stake in Merit Medical Systems by 172.9%, acquiring an additional 144,350 shares in the first quarter, bringing its total ownership to 227,814 shares valued at approximately $24 million.
• Analysts project the company's earnings per share (EPS) will reach 3.37 for the current fiscal year, following a recent quarter where Merit Medical reported an EPS of $1.01 which exceeded estimates.
• Merit Medical Systems has received positive ratings from several research firms, with a consensus rating of "Moderate Buy" and an average price target of $107.00.

Driehaus Capital Management LLC increased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 172.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,814 shares of the medical instruments supplier's stock after buying an additional 144,350 shares during the period. Driehaus Capital Management LLC owned 0.39% of Merit Medical Systems worth $24,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Merit Medical Systems during the 1st quarter worth about $31,000. IFP Advisors Inc grew its position in shares of Merit Medical Systems by 1,435.0% in the 1st 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. grew 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 purchasing an additional 200 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Merit Medical Systems in the 1st quarter valued at approximately $41,000. Finally, Versant Capital Management Inc grew its position in shares of Merit Medical Systems by 1,518.5% in the 1st quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock valued at $46,000 after purchasing an additional 410 shares during the period. Institutional investors and hedge funds own 99.66% of the company's stock.

Wall Street Analyst Weigh In

MMSI has been the subject of several research analyst reports. Canaccord Genuity Group set a $112.00 price objective on Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Raymond James Financial reduced their price target on 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. Wells Fargo & Company reduced their price target on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Piper Sandler cut their price objective on 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, Barrington Research reissued an "outperform" rating and issued a $103.00 price objective on shares of Merit Medical Systems in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.00.

Insiders Place Their Bets

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 400 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $95.61, for a total transaction of $38,244.00. Following the transaction, the chief executive officer owned 1,045,628 shares in the company, valued at $99,972,493.08. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction on Friday, August 22nd. The stock was 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 in the company, valued at approximately $1,134,365.04. This trade represents a 18.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,014 shares of company stock worth $1,933,680 in the last 90 days. Company insiders own 3.20% of the company's stock.

Merit Medical Systems Stock Performance

MMSI traded up $2.06 during trading hours on Thursday, reaching $92.15. The company's stock had a trading volume of 818,354 shares, compared to its average volume of 435,962. 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 has a market cap of $5.46 billion, a PE ratio of 46.78, a price-to-earnings-growth ratio of 2.92 and a beta of 0.64. The company's 50-day moving average is $88.26 and its 200-day moving average is $93.99. Merit Medical Systems, Inc. has a 52 week low of $81.04 and a 52 week high of $111.45.

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

Merit Medical Systems 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.