United Services Automobile Association Takes Position in Merit Medical Systems, Inc. $MMSI

Key Points

• United Services Automobile Association invested approximately $408,000 in Merit Medical Systems, acquiring 3,922 shares of the company.
• Merit Medical Systems reported a 13.2% year-over-year revenue increase in its most recent earnings report, with EPS of $1.01 exceeding expectations.
• Several analysts have issued ratings, with a consensus target price of $107.00, indicating a "Moderate Buy" consensus for the stock.

United Services Automobile Association purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,922 shares of the medical instruments supplier's stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Merit Medical Systems by 16.4% in the 1st 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 during the period. Fuller & Thaler Asset Management Inc. raised its holdings in 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 worth $186,759,000 after acquiring an additional 133,465 shares in the last quarter. Maverick Capital Ltd. bought a new stake in Merit Medical Systems during the first quarter worth about $134,517,000. Royal Bank of Canada boosted its position in Merit Medical Systems by 0.6% during the fourth quarter. Royal Bank of Canada now owns 938,210 shares of the medical instruments supplier's stock valued at $90,744,000 after purchasing an additional 5,932 shares during the last quarter. Finally, Nuveen LLC bought a new position in Merit Medical Systems in the first quarter valued at approximately $80,679,000. Institutional investors and hedge funds own 99.66% of the company's stock.

Insider Activity at Merit Medical Systems

In other news, Director Lynne N. Ward sold 3,000 shares of the company'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 value of $265,680.00. Following the transaction, the director owned 12,809 shares of the company's stock, valued at approximately $1,134,365.04. This represents a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.70% of the company's stock.

Merit Medical Systems Stock Performance

NASDAQ MMSI traded down $4.68 during trading on Friday, reaching $85.53. 700,190 shares of the company's stock were exchanged, compared to its average volume of 487,460. The business has a 50 day moving average price of $87.85 and a 200-day moving average price of $93.29. The stock has a market capitalization of $5.07 billion, a P/E ratio of 43.42, a PEG ratio of 2.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. Merit Medical Systems, Inc. has a fifty-two week low of $81.04 and a fifty-two week high of $111.45.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, July 18th. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the company a "buy" rating in a research note on Wednesday, May 21st. Barrington Research restated an "outperform" rating and issued a $103.00 price target on shares of Merit Medical Systems in a research note on Thursday, July 31st. Piper Sandler decreased their price target on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Finally, Wells Fargo & Company decreased their price target 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. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.