Intech Investment Management LLC Buys 10,582 Shares of Merit Medical Systems, Inc. $MMSI

Key Points

• Intech Investment Management LLC increased its stake in Merit Medical Systems by 33.5%, acquiring an additional 10,582 shares, bringing its total holdings to 42,169 shares valued at approximately $4.46 million.
• Merit Medical Systems reported an earnings per share (EPS) of $1.01 for the last quarter, surpassing analysts' expectations of $0.85, with revenue of $382.46 million, reflecting a 13.2% year-over-year increase.
• The company's shares have seen a 5.2% decline and are currently trading at $85.53, with a twelve-month price range between $81.04 and $111.45.

Intech Investment Management LLC boosted its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 33.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,169 shares of the medical instruments supplier's stock after purchasing an additional 10,582 shares during the quarter. Intech Investment Management LLC owned approximately 0.07% of Merit Medical Systems worth $4,458,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its stake in Merit Medical Systems by 8.7% during the fourth quarter. Cetera Investment Advisers now owns 10,093 shares of the medical instruments supplier's stock worth $976,000 after purchasing an additional 804 shares during the period. Deutsche Bank AG boosted its position in Merit Medical Systems by 23.9% during the fourth quarter. Deutsche Bank AG now owns 85,227 shares of the medical instruments supplier's stock worth $8,243,000 after purchasing an additional 16,445 shares in the last quarter. Ethic Inc. purchased a new stake in Merit Medical Systems in the 4th quarter valued at approximately $362,000. Group One Trading LLC purchased a new position in Merit Medical Systems during the fourth quarter worth about $77,000. Finally, Lazard Asset Management LLC raised its position in shares of Merit Medical Systems by 332.7% in the 4th quarter. Lazard Asset Management LLC now owns 4,682 shares of the medical instruments supplier's stock worth $452,000 after buying an additional 3,600 shares during the period. Hedge funds and other institutional investors own 99.66% of the company's stock.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of Merit Medical Systems 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 sale, the director owned 12,809 shares of the company's stock, valued at approximately $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MMSI. Canaccord Genuity Group set a $112.00 target price on Merit Medical Systems and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and issued a $108.00 price target on shares of Merit Medical Systems in a research report on Friday, July 18th. Piper Sandler reduced their price objective on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Raymond James Financial cut their target price on shares of 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. Finally, Wells Fargo & Company dropped their price target on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Merit Medical Systems currently has a consensus rating of "Buy" and a consensus price target of $107.50.

Merit Medical Systems Price Performance

NASDAQ MMSI traded up $0.62 during midday trading on Thursday, hitting $83.32. The company had a trading volume of 219,052 shares, compared to its average volume of 645,173. The firm has a 50-day moving average price of $87.17 and a 200-day moving average price of $93.01. The company has a market capitalization of $4.93 billion, a PE ratio of 42.30, a P/E/G ratio of 2.78 and a beta of 0.64. Merit Medical Systems, Inc. has a twelve month low of $81.04 and a twelve month high of $111.45. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The company 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 firm's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. As a group, analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

About Merit Medical Systems

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.