Fifth Third Bancorp Has $21.58 Million Stock Holdings in Merit Medical Systems, Inc. $MMSI

Key Points

• Fifth Third Bancorp dramatically increased its stake in Merit Medical Systems by 24,625.6% in the first quarter, ending with 313,026 shares valued at about $21.58 million.
• Merit Medical Systems delivered solid quarterly results, beating EPS and revenue estimates with $0.94 EPS on $381.88 million in revenue, while revenue rose 7.4% year over year.
• Analysts remain generally positive but have trimmed targets, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $92.80 despite several recent price cuts.

Fifth Third Bancorp raised its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 24,625.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 313,026 shares of the medical instruments supplier's stock after acquiring an additional 311,760 shares during the period. Fifth Third Bancorp owned approximately 0.52% of Merit Medical Systems worth $21,577,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MMSI. AQR Capital Management LLC increased its holdings in Merit Medical Systems by 7.3% in the first quarter. AQR Capital Management LLC now owns 16,361 shares of the medical instruments supplier's stock valued at $1,730,000 after purchasing an additional 1,114 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Merit Medical Systems by 16.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier's stock worth $76,039,000 after buying an additional 103,878 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Merit Medical Systems by 745.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 922 shares of the medical instruments supplier's stock valued at $86,000 after acquiring an additional 813 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Merit Medical Systems by 24.8% in the 2nd quarter. First Trust Advisors LP now owns 59,215 shares of the medical instruments supplier's stock valued at $5,535,000 after acquiring an additional 11,770 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of Merit Medical Systems by 9.1% in the 2nd quarter. Cerity Partners LLC now owns 3,019 shares of the medical instruments supplier's stock valued at $282,000 after acquiring an additional 251 shares during the period. Institutional investors and hedge funds own 99.66% of the company's stock.

Merit Medical Systems Price Performance

MMSI stock opened at $73.26 on Tuesday. The stock has a 50-day moving average price of $66.01 and a two-hundred day moving average price of $72.92. The stock has a market cap of $4.37 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.28 and a beta of 0.52. The company has a current ratio of 5.08, a quick ratio of 3.46 and a debt-to-equity ratio of 0.45. Merit Medical Systems, Inc. has a 1 year low of $59.74 and a 1 year high of $94.75.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.10. The company 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 quarterly 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 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Equities analysts forecast that Merit Medical Systems, Inc. will post 3.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Merit Medical Systems news, 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 sale, the director owned 7,809 shares in the company, valued at approximately $488,921.49. The trade was a 39.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian G. Lloyd purchased 2,000 shares of Merit Medical Systems stock in a transaction 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 in the company, valued at approximately $125,240. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on MMSI shares. JPMorgan Chase & Co. reduced their price objective 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. Canaccord Genuity Group lowered their target price on shares of Merit Medical Systems from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Robert W. Baird set a $83.00 target price on Merit Medical Systems in a report on Friday, May 1st. Barrington Research cut their price objective on Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating on the stock in a report on Monday, April 20th. Finally, Citigroup reiterated an "outperform" rating on shares of Merit Medical Systems in a research report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.80.

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.

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