Merit Medical Systems, Inc. $MMSI Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Merit Medical Systems stake by 20.8% in the first quarter, selling 152,248 shares and retaining 580,918 shares worth approximately $40 million. Institutional investors collectively own 99.66% of the company.
• Analyst sentiment remains favorable, with eight Buy ratings and four Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $100.
• Merit Medical exceeded quarterly expectations, reporting $1.19 in EPS versus a $0.96 estimate and $418.84 million in revenue, up 9.5% year over year. Shares opened at $90.50, near their 52-week high of $94.75.

Bank of America Corp DE trimmed its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 20.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 580,918 shares of the medical instruments supplier's stock after selling 152,248 shares during the quarter. Bank of America Corp DE owned about 0.97% of Merit Medical Systems worth $40,043,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in Merit Medical Systems in the 4th quarter valued at approximately $25,000. Torren Management LLC bought a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $38,000. Covestor Ltd grew its stake in shares of Merit Medical Systems by 252.6% in the fourth quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier's stock worth $41,000 after acquiring an additional 336 shares during the last quarter. Danske Bank A S bought a new position in Merit Medical Systems during the third quarter worth $42,000. Finally, Quarry LP increased its holdings in shares of Merit Medical Systems by 185.9% during the 3rd quarter. Quarry LP now owns 526 shares of the medical instruments supplier's stock worth $44,000 after purchasing an additional 342 shares during the period. 99.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MMSI has been the topic of several recent research reports. Needham & Company LLC lifted their target price on shares of Merit Medical Systems from $90.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Weiss Ratings raised Merit Medical Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 3rd. Barrington Research set a $114.00 target price on shares of Merit Medical Systems in a research note on Friday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Merit Medical Systems from $77.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Finally, Compass Point set a $107.00 target price on shares of Merit Medical Systems in a research report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating and four have 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 $100.00.

Merit Medical Systems Price Performance

NASDAQ:MMSI opened at $90.50 on Friday. Merit Medical Systems, Inc. has a one year low of $59.74 and a one year high of $94.75. The company has a market cap of $5.40 billion, a P/E ratio of 37.40, a P/E/G ratio of 2.30 and a beta of 0.49. The firm's fifty day moving average price is $74.53 and its two-hundred day moving average price is $72.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.20 and a quick ratio of 2.79.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its earnings results on Thursday, July 30th. The medical instruments supplier reported $1.19 EPS for the quarter, beating the consensus estimate of $0.96 by $0.23. Merit Medical Systems had a return on equity of 13.75% and a net margin of 9.22%.The company had revenue of $418.84 million for the quarter, compared to the consensus estimate of $405.25 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. Equities analysts expect that Merit Medical Systems, Inc. will post 3.81 earnings per share for the current year.

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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