Louisiana State Employees Retirement System Invests $1.81 Million in Merit Medical Systems, Inc. $MMSI

Key Points

• Louisiana State Employees Retirement System opened a new position in Merit Medical Systems in the first quarter, buying 26,300 shares worth about $1.81 million.
• Merit Medical Systems reported strong quarterly results, with EPS of $0.94 topping estimates and revenue of $381.88 million slightly above expectations; revenue rose 7.4% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus rating and an average price target of $92.80, even though shares were trading down about 1.1% in the report.

Louisiana State Employees Retirement System bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,300 shares of the medical instruments supplier's stock, valued at approximately $1,813,000.

Several other large investors have also recently bought and sold shares of MMSI. Tudor Investment Corp ET AL purchased a new stake in Merit Medical Systems during the 3rd quarter worth about $2,913,050,000. State Street Corp increased its holdings in shares of Merit Medical Systems by 1.5% in the 4th quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier's stock valued at $196,645,000 after acquiring an additional 32,459 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Merit Medical Systems by 12.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,796 shares of the medical instruments supplier's stock worth $183,137,000 after acquiring an additional 234,682 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Merit Medical Systems by 7.0% during the 4th quarter. Wellington Management Group LLP now owns 1,327,013 shares of the medical instruments supplier's stock worth $116,963,000 after acquiring an additional 86,504 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Merit Medical Systems by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,225,013 shares of the medical instruments supplier's stock worth $107,974,000 after purchasing an additional 47,151 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Merit Medical Systems Trading Down 1.1%

NASDAQ:MMSI opened at $69.34 on Wednesday. The company has a market capitalization of $4.14 billion, a PE ratio of 30.02, a P/E/G ratio of 2.18 and a beta of 0.54. Merit Medical Systems, Inc. has a 52-week low of $59.74 and a 52-week high of $96.74. The stock's 50 day moving average price is $65.35 and its 200 day moving average price is $73.90. The company has a quick ratio of 3.46, a current ratio of 5.08 and a debt-to-equity ratio of 0.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.10. The company had revenue of $381.88 million during the quarter, compared to analysts' expectations of $377.59 million. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 3.62 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lynne N. Ward sold 5,000 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $62.61, for a total value of $313,050.00. Following the completion of the sale, the director owned 7,809 shares in the company, valued at $488,921.49. This represents a 39.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian G. Lloyd purchased 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average price of $62.62 per share, with a total value of $125,240.00. Following the purchase, the insider owned 2,000 shares in the company, valued at $125,240. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of research analyst reports. Citigroup reaffirmed an "outperform" rating on shares of Merit Medical Systems in a report on Monday, April 20th. Piper Sandler reduced their price objective on shares of Merit Medical Systems from $106.00 to $96.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. Robert W. Baird set a $83.00 target price on shares of Merit Medical Systems in a report on Friday, May 1st. Barrington Research dropped their target price on shares of Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating on the stock in a research report on Monday, April 20th. Finally, Wall Street Zen lowered shares of Merit Medical Systems from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 5th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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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