Merit Medical Systems, Inc. $MMSI Shares Purchased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its position in Merit Medical Systems by 20.4% during the first quarter, now owning 240,637 shares valued at approximately $25.4 million.
• Merit Medical Systems reported an EPS of $1.01 for the last quarter, exceeding analysts' expectations by $0.16 and achieving a revenue increase of 13.2% year-over-year.
• Currently, Merit Medical Systems has a market capitalization of $5.07 billion, with a consensus rating of "Moderate Buy" and a price target averaging $107.00 from investment analysts.

Voya Investment Management LLC raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,637 shares of the medical instruments supplier's stock after acquiring an additional 40,794 shares during the quarter. Voya Investment Management LLC owned approximately 0.41% of Merit Medical Systems worth $25,438,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MMSI. Maverick Capital Ltd. acquired a new position in Merit Medical Systems in the 1st quarter valued at about $134,517,000. Nuveen LLC acquired a new position in Merit Medical Systems in the 1st quarter valued at about $80,679,000. Ameriprise Financial Inc. grew its position in shares of Merit Medical Systems by 109.4% during the first quarter. Ameriprise Financial Inc. now owns 660,394 shares of the medical instruments supplier's stock worth $69,810,000 after buying an additional 345,070 shares in the last quarter. Tidal Investments LLC grew its position in shares of Merit Medical Systems by 3,197.9% during the fourth quarter. Tidal Investments LLC now owns 342,912 shares of the medical instruments supplier's stock worth $33,166,000 after buying an additional 332,514 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Merit Medical Systems by 16.4% during the first quarter. Invesco Ltd. now owns 1,787,289 shares of the medical instruments supplier's stock worth $188,934,000 after buying an additional 251,821 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lynne N. Ward sold 3,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MMSI shares. Wells Fargo & Company lowered their price objective on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. 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 note on Thursday, July 31st. Needham & Company LLC reiterated a "buy" rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research note on Friday, July 18th. Barrington Research reiterated an "outperform" rating and issued a $103.00 price objective on shares of Merit Medical Systems in a research note on Thursday, July 31st. Finally, Raymond James Financial reduced their price objective on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $107.50.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock traded down $0.54 during trading hours on Friday, hitting $83.56. 1,949,791 shares of the company were exchanged, compared to its average volume of 568,987. Merit Medical Systems, Inc. has a 1 year low of $81.04 and a 1 year 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. The business has a 50-day moving average of $86.75 and a 200-day moving average of $92.75. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 42.42, a P/E/G ratio of 2.83 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The business had revenue of $382.46 million during the quarter, compared to analysts' expectations of $372.47 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. The company's quarterly revenue was up 13.2% compared to the same quarter last year. As a group, analysts expect that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

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.