Fuller & Thaler Asset Management Inc. Boosts Stake in Merit Medical Systems, Inc. $MMSI

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Merit Medical Systems by 8.2%, holding a total of 1,766,711 shares after purchasing an additional 133,465 shares in Q1 2023.
• Merit Medical Systems reported a net margin of 8.31% and earnings per share of $1.01, surpassing analysts' expectations of $0.85 for the most recent quarter.
• Several analysts have set new price targets for Merit Medical Systems, with a consensus target price of $107.00, reflecting an overall rating of "Moderate Buy".

Fuller & Thaler Asset Management Inc. grew its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,766,711 shares of the medical instruments supplier's stock after buying an additional 133,465 shares during the quarter. Merit Medical Systems accounts for approximately 0.7% of Fuller & Thaler Asset Management Inc.'s portfolio, making the stock its 28th biggest position. Fuller & Thaler Asset Management Inc. owned approximately 2.99% of Merit Medical Systems worth $186,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. US Bancorp DE lifted its stake in Merit Medical Systems by 3.8% during the first quarter. US Bancorp DE now owns 3,936 shares of the medical instruments supplier's stock worth $416,000 after purchasing an additional 145 shares during the last quarter. Westover Capital Advisors LLC lifted its stake in Merit Medical Systems by 2.6% during the first quarter. Westover Capital Advisors LLC now owns 6,728 shares of the medical instruments supplier's stock worth $711,000 after purchasing an additional 168 shares during the last quarter. MeadowBrook Investment Advisors LLC lifted its stake in Merit Medical Systems by 5.9% during the first quarter. MeadowBrook Investment Advisors LLC now owns 3,065 shares of the medical instruments supplier's stock worth $324,000 after purchasing an additional 170 shares during the last quarter. Blue Trust Inc. lifted its stake in Merit Medical Systems by 15.9% during the first quarter. Blue Trust Inc. now owns 1,529 shares of the medical instruments supplier's stock worth $162,000 after purchasing an additional 210 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Merit Medical Systems by 4.8% during the first quarter. Xponance Inc. now owns 4,689 shares of the medical instruments supplier's stock worth $496,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI traded up $2.82 during trading on Friday, reaching $89.45. The company had a trading volume of 438,620 shares, compared to its average volume of 598,049. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 45.41, a price-to-earnings-growth ratio of 2.83 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. The stock's fifty day moving average price is $88.73 and its 200 day moving average price is $95.13. Merit Medical Systems, Inc. has a fifty-two week low of $81.04 and a fifty-two week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.16. The business had revenue of $382.46 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. As a group, equities research analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael R. Mcdonnell sold 1,750 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $94.51, for a total value of $165,392.50. Following the transaction, the director owned 6,395 shares of the company's stock, valued at approximately $604,391.45. The trade was a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lynne N. Ward sold 2,433 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $84.89, for a total value of $206,537.37. Following the completion of the transaction, the director directly owned 12,809 shares in the company, valued at approximately $1,087,356.01. The trade was a 15.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,779 shares of company stock valued at $6,327,983. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MMSI shares. Raymond James Financial decreased their target price on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Wells Fargo & Company decreased their target price on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Robert W. Baird cut their price target on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $108.00 price target on shares of Merit Medical Systems in a research report on Friday, July 18th. 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.00.

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.