Greenhouse Funds LLLP Has $43.11 Million Stock Holdings in Merit Medical Systems, Inc. $MMSI

Key Points

• Greenhouse Funds LLLP increased its holdings in Merit Medical Systems, Inc. to 407,787 shares, representing a 1.1% rise during the first quarter, with a total investment of approximately $43.11 million.
• A variety of institutional investors, including Opal Wealth Advisors and IFP Advisors, significantly increased their stakes in the company, with 99.66% of the stock owned by institutional investors.
• Merit Medical Systems reported an earnings beat with $1.01 earnings per share for the last quarter, surpassing analysts' expectations of $0.85, and achieved a revenue of $382.46 million.

Greenhouse Funds LLLP boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 407,787 shares of the medical instruments supplier's stock after buying an additional 4,459 shares during the quarter. Merit Medical Systems makes up about 2.0% of Greenhouse Funds LLLP's portfolio, making the stock its 24th biggest position. Greenhouse Funds LLLP owned about 0.69% of Merit Medical Systems worth $43,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MMSI. Opal Wealth Advisors LLC acquired a new stake in Merit Medical Systems in the 1st quarter valued at approximately $31,000. IFP Advisors Inc increased its position in shares of Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock worth $32,000 after purchasing an additional 287 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Merit Medical Systems during the 1st quarter worth approximately $41,000. Finally, Versant Capital Management Inc increased its position in shares of 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 worth $46,000 after purchasing an additional 410 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $108.00 target price on shares of Merit Medical Systems in a report on Friday, July 18th. Barrington Research reissued an "outperform" rating and set a $103.00 target price on shares of Merit Medical Systems in a report on Thursday, July 31st. Raymond James Financial decreased their target price on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating on the stock in a report 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 on the stock in a report on Thursday, July 31st. Finally, Piper Sandler reduced their price target on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.00.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $90.09 on Thursday. The stock has a fifty day moving average price of $88.27 and a 200-day moving average price of $94.10. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 2.93 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. 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 for the quarter, beating analysts' consensus estimates of $0.85 by $0.16. The firm had revenue of $382.46 million during the quarter, compared to the consensus estimate 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 was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. As a group, equities analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Raul Jr. Parra sold 15,181 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $93.75, for a total transaction of $1,423,218.75. Following the completion of the sale, the chief financial officer directly owned 24,201 shares in the company, valued at $2,268,843.75. This represents a 38.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the completion of the transaction, the director owned 12,809 shares of the company's stock, valued at $1,134,365.04. This represents a 18.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,014 shares of company stock worth $1,933,680 in the last ninety days. 3.70% of the stock is owned by insiders.

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.

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