MetLife Investment Management LLC Has $4.10 Million Stock Position in Merit Medical Systems, Inc. $MMSI

Key Points

• MetLife Investment Management LLC has increased its position in Merit Medical Systems by 12.0%, holding approximately 38,751 shares valued at about $4.1 million as per its recent SEC filing.
• Merit Medical reported strong quarterly earnings, with $1.01 EPS, surpassing analyst expectations of $0.85, and a 13.2% increase in revenue year-over-year, amounting to $382.46 million.
• Insider trading activity showed significant sales, with CFO Raul Jr. Parra selling 15,181 shares, reflecting a 38.55% decrease in his ownership, amid overall 99.66% institutional ownership of the stock.

MetLife Investment Management LLC raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,751 shares of the medical instruments supplier's stock after acquiring an additional 4,166 shares during the period. MetLife Investment Management LLC owned about 0.07% of Merit Medical Systems worth $4,096,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Merit Medical Systems in the 1st quarter valued at approximately $31,000. IFP Advisors Inc raised its holdings in Merit Medical Systems by 1,435.0% in the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock valued at $32,000 after acquiring an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Merit Medical Systems by 119.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock worth $39,000 after purchasing an additional 200 shares during the period. Bayforest Capital Ltd acquired a new stake in Merit Medical Systems during the first quarter valued at approximately $41,000. Finally, Versant Capital Management Inc boosted its holdings in Merit Medical Systems by 1,518.5% during the first quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock valued at $46,000 after purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $90.54 on Friday. Merit Medical Systems, Inc. has a 1 year low of $81.04 and a 1 year high of $111.45. The firm has a 50 day moving average of $88.41 and a 200-day moving average of $94.37. 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 stock has a market capitalization of $5.36 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66.

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

Insider Activity

In other news, CFO Raul Jr. Parra sold 15,181 shares of Merit Medical Systems stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the transaction, the chief financial officer owned 24,201 shares in the company, valued at approximately $2,268,843.75. The trade was a 38.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael R. Mcdonnell sold 1,750 shares of Merit Medical Systems stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $94.51, for a total transaction of $165,392.50. Following the completion of the transaction, the director owned 6,395 shares of the company's stock, valued at $604,391.45. This trade represents a 21.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,514 shares of company stock worth $2,264,465. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MMSI has been the topic of a number of recent research reports. Piper Sandler decreased their price objective on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, July 18th. Wells Fargo & Company decreased their price objective on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Raymond James Financial decreased their price objective 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. Finally, Barrington Research reaffirmed an "outperform" rating and set a $103.00 price objective on shares of Merit Medical Systems in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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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