Ranger Investment Management L.P. Sells 64,180 Shares of Merit Medical Systems, Inc. $MMSI

Ranger Investment Management L.P. cut its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 31.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,425 shares of the medical instruments supplier's stock after selling 64,180 shares during the quarter. Ranger Investment Management L.P. owned 0.23% of Merit Medical Systems worth $9,611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMSI. Wellington Management Group LLP increased its stake in Merit Medical Systems by 377.7% in the third quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier's stock valued at $103,248,000 after acquiring an additional 980,823 shares during the last quarter. Norges Bank bought a new stake in Merit Medical Systems during the fourth quarter worth $75,957,000. Iron Triangle Partners LP bought a new stake in Merit Medical Systems during the fourth quarter worth $33,992,000. Champlain Investment Partners LLC bought a new stake in Merit Medical Systems during the fourth quarter worth $32,359,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Merit Medical Systems by 24,625.6% in the 1st quarter. Fifth Third Bancorp now owns 313,026 shares of the medical instruments supplier's stock valued at $21,577,000 after purchasing an additional 311,760 shares in the last quarter. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Up 2.9%

Shares of MMSI opened at $78.29 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.46 and a current ratio of 5.08. Merit Medical Systems, Inc. has a 52 week low of $59.74 and a 52 week high of $94.75. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.37 and a beta of 0.52. The stock has a fifty day moving average of $68.73 and a 200-day moving average of $71.80.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.10. The business had revenue of $381.88 million for the quarter, compared to analyst estimates of $377.59 million. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.Merit Medical Systems's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. As a group, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.62 earnings per share for the current fiscal year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, insider Brian G. Lloyd bought 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost of $62.62 per share, for a total transaction of $125,240.00. Following the transaction, the insider directly owned 2,000 shares in the company, valued at approximately $125,240. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynne N. Ward sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $62.61, for a total transaction of $313,050.00. Following the sale, the director directly owned 7,809 shares in the company, valued at $488,921.49. The trade was a 39.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup restated an "outperform" rating on shares of Merit Medical Systems in a research report on Monday, April 20th. Compass Point set a $107.00 target price on Merit Medical Systems in a research note on Monday, April 20th. Barrington Research lowered their target price on Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating for the company in a research note on Monday, April 20th. Piper Sandler reissued an "overweight" rating on shares of Merit Medical Systems in a report on Friday, July 10th. Finally, Wells Fargo & Company reduced their price target on shares of Merit Medical Systems from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Friday, May 1st. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $92.80.

About Merit Medical Systems

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.