Rockefeller Capital Management L.P. Sells 127,051 Shares of Merit Medical Systems, Inc. $MMSI

Key Points

• Rockefeller Capital Management cut its stake in Merit Medical Systems by 22.6% in the fourth quarter, selling 127,051 shares and leaving it with 435,587 shares valued at about $38.4 million.
• Institutional ownership remains heavy, with hedge funds and other institutional investors holding 99.66% of the company; several firms recently added or significantly increased positions in MMSI.
• Merit Medical’s latest results beat expectations, as the company reported Q1 EPS of $0.94 versus the $0.84 consensus and revenue of $381.9 million, while analysts currently view the stock as a “Moderate Buy” with a $92.80 price target.

Rockefeller Capital Management L.P. lowered its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 22.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 435,587 shares of the medical instruments supplier's stock after selling 127,051 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.73% of Merit Medical Systems worth $38,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Tudor Investment Corp ET AL bought a new position in shares of Merit Medical Systems during the 3rd quarter valued at approximately $2,913,050,000. Wellington Management Group LLP raised its stake in Merit Medical Systems by 377.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,240,509 shares of the medical instruments supplier's stock worth $103,248,000 after acquiring an additional 980,823 shares during the period. Norges Bank purchased a new position in Merit Medical Systems during the fourth quarter valued at approximately $75,957,000. Iron Triangle Partners LP purchased a new position in Merit Medical Systems during the fourth quarter valued at approximately $33,992,000. Finally, Champlain Investment Partners LLC bought a new position in shares of Merit Medical Systems in the fourth quarter worth approximately $32,359,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Lynne N. Ward sold 5,000 shares of Merit Medical Systems stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $62.61, for a total transaction of $313,050.00. Following the completion of the transaction, the director directly owned 7,809 shares of the company's stock, valued at approximately $488,921.49. The trade was a 39.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian G. Lloyd purchased 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were purchased at an average price of $62.62 per share, for a total transaction of $125,240.00. Following the completion of the acquisition, the insider directly owned 2,000 shares in the company, valued at $125,240. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MMSI. Barrington Research decreased their price objective on shares of Merit Medical Systems from $109.00 to $107.00 and set an "outperform" rating on the stock in a research report on Monday, April 20th. Needham & Company LLC dropped their target price on shares of Merit Medical Systems from $101.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 1st. Wall Street Zen lowered Merit Medical Systems from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 5th. JPMorgan Chase & Co. decreased their price target on Merit Medical Systems from $95.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Finally, Piper Sandler lowered their price objective on Merit Medical Systems from $106.00 to $96.00 and set an "overweight" rating on the stock in a research report on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $92.80.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $67.22 on Monday. The company has a market cap of $4.01 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 2.09 and a beta of 0.54. Merit Medical Systems, Inc. has a 1 year low of $59.74 and a 1 year high of $96.74. The stock's 50 day simple moving average is $65.45 and its two-hundred day simple moving average is $74.63. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.08 and a quick ratio of 3.46.

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

Merit Medical Systems Profile

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.

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