Merit Medical Systems, Inc. $MMSI Stock Position Increased 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 lifted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 20.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 240,637 shares of the medical instruments supplier's stock after buying an additional 40,794 shares during the period. Voya Investment Management LLC owned approximately 0.41% of Merit Medical Systems worth $25,438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Merit Medical Systems in the 1st quarter worth $1,575,000. Intech Investment Management LLC raised its stake in shares of Merit Medical Systems by 33.5% in the 1st quarter. Intech Investment Management LLC now owns 42,169 shares of the medical instruments supplier's stock worth $4,458,000 after buying an additional 10,582 shares in the last quarter. SageView Advisory Group LLC raised its stake in shares of Merit Medical Systems by 3.1% in the 1st quarter. SageView Advisory Group LLC now owns 5,065 shares of the medical instruments supplier's stock worth $535,000 after buying an additional 153 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Merit Medical Systems in the 1st quarter worth $41,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Merit Medical Systems by 73.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 286,943 shares of the medical instruments supplier's stock worth $30,333,000 after purchasing an additional 121,599 shares during the period. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $85.53 on Monday. 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 company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 43.42, a P/E/G ratio of 2.88 and a beta of 0.64. The stock's fifty day simple moving average is $87.85 and its 200-day simple moving average is $93.29.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $382.46 million for the quarter, compared to the consensus estimate of $372.47 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business's quarterly revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $88.56, for a total value of $265,680.00. Following the transaction, the director owned 12,809 shares in the company, valued at $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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. Wells Fargo & Company cut their target price on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $108.00 target price on shares of Merit Medical Systems in a research report on Friday, July 18th. Barrington Research reaffirmed an "outperform" rating and set a $103.00 target price on shares of Merit Medical Systems in a research report on Thursday, July 31st. Finally, Raymond James Financial lowered their price target 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. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.00.

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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