Merit Medical Systems, Inc. $MMSI Stock Position Raised by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS AM significantly increased its stake in Merit Medical Systems by 73.5% during the first quarter, now holding approximately 0.49% of the company worth $30.33 million.
• Several analysts have set new price targets for Merit Medical Systems, with a consensus rating of "Buy" and an average target price of $107.50.
• Merit Medical Systems reported $1.01 EPS for the last quarter, exceeding estimates and showing a revenue increase of 13.2% year-over-year.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 73.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 286,943 shares of the medical instruments supplier's stock after purchasing an additional 121,599 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.49% of Merit Medical Systems worth $30,333,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Merit Medical Systems in the first quarter worth approximately $31,000. IFP Advisors Inc raised its holdings in shares of Merit Medical Systems by 1,435.0% during the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock valued at $32,000 after purchasing an additional 287 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 valued at $39,000 after purchasing an additional 200 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Merit Medical Systems in the 1st quarter worth approximately $41,000. Finally, Versant Capital Management Inc grew its position in Merit Medical Systems by 1,518.5% in the 1st quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock worth $46,000 after purchasing an additional 410 shares during the period. 99.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Needham & Company LLC reissued a "buy" rating and issued a $108.00 target price on shares of Merit Medical Systems in a report on Friday, July 18th. Barrington Research reiterated an "outperform" rating and set a $103.00 price target on shares of Merit Medical Systems in a research note on Thursday, July 31st. Wells Fargo & Company cut their price objective on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Raymond James Financial reduced their price objective on shares of Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Piper Sandler lowered their price target on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $107.50.

Merit Medical Systems Trading Down 0.6%

Shares of NASDAQ:MMSI traded down $0.54 during midday trading on Friday, reaching $83.56. The company's stock had a trading volume of 1,949,791 shares, compared to its average volume of 568,987. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 2.83 and a beta of 0.64. Merit Medical Systems, Inc. has a 1 year low of $81.04 and a 1 year high of $111.45. 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 business has a 50 day moving average price of $86.75 and a 200 day moving average price of $92.75.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $382.46 million during the quarter, compared to the consensus estimate of $372.47 million. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. Merit Medical Systems's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 earnings per share. Research analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Activity

In other news, Director Lynne N. Ward sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following the completion of the transaction, the director directly owned 12,809 shares in the company, valued at approximately $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.20% of the company's stock.

About Merit Medical Systems

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.