Wellington Management Group LLP Buys 34,448 Shares of Merit Medical Systems, Inc. $MMSI

Wellington Management Group LLP boosted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI – Free Report) by 15.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,084 shares of the medical instruments supplier’s stock after acquiring an additional 34,448 shares during the period. Wellington Management Group LLP owned 0.44% of Merit Medical Systems worth $27,493,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MMSI. First Trust Advisors LP boosted its holdings in Merit Medical Systems by 15.1% in the fourth quarter. First Trust Advisors LP now owns 59,466 shares of the medical instruments supplier’s stock valued at $5,752,000 after acquiring an additional 7,781 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Merit Medical Systems by 4.7% in the fourth quarter. MetLife Investment Management LLC now owns 34,585 shares of the medical instruments supplier’s stock valued at $3,345,000 after acquiring an additional 1,557 shares during the last quarter. MML Investors Services LLC boosted its holdings in Merit Medical Systems by 18.8% in the fourth quarter. MML Investors Services LLC now owns 21,021 shares of the medical instruments supplier’s stock valued at $2,033,000 after acquiring an additional 3,331 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Merit Medical Systems by 9.5% during the 4th quarter. Stifel Financial Corp now owns 30,702 shares of the medical instruments supplier’s stock worth $2,970,000 after buying an additional 2,652 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in shares of Merit Medical Systems by 210.5% during the 4th quarter. Susquehanna International Group LLP now owns 34,951 shares of the medical instruments supplier’s stock worth $3,380,000 after buying an additional 23,695 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on MMSI. Piper Sandler cut their price target on Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Wells Fargo & Company cut their price target on Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Raymond James Financial cut their price target on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Needham & Company LLC restated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Friday, July 18th. Finally, Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the stock a “buy” rating in a report on Wednesday, May 21st. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Check Out Our Latest Analysis on MMSI

Insiders Place Their Bets

In related news, Director David Floyd sold 3,515 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $94.16, for a total value of $330,972.40. Following the completion of the sale, the director directly owned 4,880 shares of the company’s stock, valued at approximately $459,500.80. This represents a 41.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Fred P. Lampropoulos sold 400 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $95.61, for a total value of $38,244.00. Following the completion of the sale, the chief executive officer directly owned 1,045,628 shares of the company’s stock, valued at $99,972,493.08. The trade was a 0.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,779 shares of company stock worth $6,327,983 in the last three months. 3.20% of the stock is owned by corporate insiders.

Merit Medical Systems Price Performance

Shares of MMSI opened at $89.45 on Monday. Merit Medical Systems, Inc. has a 12-month low of $81.04 and a 12-month high of $111.45. The business’s fifty day moving average is $88.73 and its 200 day moving average is $94.94. 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 stock has a market cap of $5.30 billion, a P/E ratio of 45.41, a P/E/G ratio of 2.92 and a beta of 0.66.

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

Merit Medical Systems Profile

(Free Report)

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.