Mountain Pacific Investment Advisers LLC Acquires 23,897 Shares of Merit Medical Systems, Inc. $MMSI

Key Points

• Mountain Pacific Investment Advisers LLC increased its ownership of Merit Medical Systems by 34.1%, acquiring an additional 23,897 shares, bringing their total to 93,966 shares valued at approximately $8.78 million.
• Merit Medical Systems reported earnings of $1.01 EPS for the last quarter, exceeding consensus estimates and achieving a revenue of $382.46 million, which is a 13.2% increase compared to the previous year.
• Analyst ratings for Merit Medical Systems remain positive, with an average rating of "Buy" and a revised price target of $107.50 following various updates from major financial institutions.

Mountain Pacific Investment Advisers LLC raised its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 34.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,966 shares of the medical instruments supplier's stock after acquiring an additional 23,897 shares during the quarter. Mountain Pacific Investment Advisers LLC owned approximately 0.16% of Merit Medical Systems worth $8,784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. boosted its position in 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 valued at $188,934,000 after purchasing an additional 251,821 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Merit Medical Systems by 8.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,766,711 shares of the medical instruments supplier's stock valued at $186,759,000 after buying an additional 133,465 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Merit Medical Systems during the first quarter valued at about $134,517,000. Nuveen LLC purchased a new position in shares of Merit Medical Systems in the 1st quarter worth approximately $80,679,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Merit Medical Systems by 16.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier's stock worth $76,039,000 after acquiring an additional 103,878 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $82.08 on Thursday. Merit Medical Systems, Inc. has a 52 week low of $79.10 and a 52 week high of $111.45. The business's 50 day moving average price is $86.05 and its 200 day moving average price is $91.79. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. The firm has a market cap of $4.86 billion, a P/E ratio of 41.66, a P/E/G ratio of 2.80 and a beta of 0.58.

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

Insider Buying and Selling at Merit Medical Systems

In other 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 completion of the transaction, the director owned 12,809 shares of the company's stock, valued at $1,134,365.04. The trade was a 18.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

MMSI has been the topic of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $108.00 price target on shares of Merit Medical Systems in a report on Friday, July 18th. Wells Fargo & Company dropped their target price on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Raymond James Financial decreased their price target 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. Piper Sandler dropped their price target on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Finally, Barrington Research restated an "outperform" rating and set a $103.00 price objective on shares of Merit Medical Systems in a report on Tuesday, September 23rd. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Merit Medical Systems has an average rating of "Buy" and an average price target of $107.50.

Merit Medical Systems Company 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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