Fuller & Thaler Asset Management Inc. Boosts Holdings 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. increased its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,766,711 shares of the medical instruments supplier's stock after acquiring an additional 133,465 shares during the quarter. Merit Medical Systems comprises 0.7% of Fuller & Thaler Asset Management Inc.'s investment portfolio, making the stock its 28th biggest position. Fuller & Thaler Asset Management Inc. owned about 2.99% of Merit Medical Systems worth $186,759,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Merit Medical Systems in the 1st quarter valued at about $31,000. IFP Advisors Inc grew its stake 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 buying an additional 287 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Merit Medical Systems in the 1st quarter valued at approximately $41,000. Versant Capital Management Inc grew its stake 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 buying an additional 410 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Merit Medical Systems in the 1st quarter valued at approximately $60,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Merit Medical Systems news, Director David Floyd sold 3,515 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $94.16, for a total value of $330,972.40. Following the sale, the director directly owned 4,880 shares of the company's stock, valued at approximately $459,500.80. This represents a 41.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lynne N. Ward sold 2,433 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $84.89, for a total transaction of $206,537.37. Following the completion of the sale, the director directly owned 12,809 shares in the company, valued at approximately $1,087,356.01. This represents a 15.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,779 shares of company stock worth $6,327,983. Corporate insiders own 3.20% of the company's stock.

Merit Medical Systems Stock Up 3.3%

MMSI stock traded up $2.82 during midday trading on Friday, hitting $89.45. The company's stock had a trading volume of 438,620 shares, compared to its average volume of 652,641. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. Merit Medical Systems, Inc. has a 52-week low of $81.04 and a 52-week high of $111.45. The firm has a market capitalization of $5.30 billion, a P/E ratio of 45.41, a PEG ratio of 2.86 and a beta of 0.66. The firm has a 50-day simple moving average of $88.80 and a 200-day simple moving average of $95.26.

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, beating the consensus estimate of $0.85 by $0.16. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company had revenue of $382.46 million during the quarter, compared to analysts' expectations of $372.47 million. During the same quarter last year, the company posted $0.92 EPS. The firm's revenue was up 13.2% compared to the same quarter last year. As a group, equities analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on MMSI. Barrington Research reissued an "outperform" rating and issued a $103.00 price target on shares of Merit Medical Systems in a research note on Thursday, July 31st. Canaccord Genuity Group set a $112.00 price target on shares of Merit Medical Systems and gave the company a "buy" rating in a research note on Wednesday, May 21st. Needham & Company LLC reissued a "buy" rating and issued a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, July 18th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Raymond James Financial reduced their price target on shares of Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.00.

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.