Assenagon Asset Management S.A. Acquires New Position in Merit Medical Systems, Inc. $MMSI

Assenagon Asset Management S.A. bought a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,750 shares of the medical instruments supplier’s stock, valued at approximately $1,644,000.

A number of other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of Merit Medical Systems by 29.1% in the first quarter. American Century Companies Inc. now owns 30,537 shares of the medical instruments supplier’s stock worth $3,228,000 after acquiring an additional 6,879 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Merit Medical Systems by 109.4% in the first quarter. Ameriprise Financial Inc. now owns 660,394 shares of the medical instruments supplier’s stock valued at $69,810,000 after purchasing an additional 345,070 shares in the last quarter. AlphaQuest LLC grew its stake in Merit Medical Systems by 106,500.0% in the first quarter. AlphaQuest LLC now owns 1,066 shares of the medical instruments supplier’s stock valued at $113,000 after purchasing an additional 1,065 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Merit Medical Systems by 119.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in shares of Merit Medical Systems by 1,178.4% during the 1st quarter. Walleye Capital LLC now owns 65,979 shares of the medical instruments supplier’s stock worth $6,975,000 after purchasing an additional 60,818 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Fred P. Lampropoulos sold 25,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $87.31, for a total transaction of $2,182,750.00. Following the completion of the transaction, the chairman directly owned 1,029,955 shares in the company, valued at $89,925,371.05. This represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 60,000 shares of company stock worth $5,189,900. 3.70% of the stock is owned by corporate insiders.

Merit Medical Systems Stock Performance

MMSI opened at $87.63 on Wednesday. The firm has a market capitalization of $5.20 billion, a P/E ratio of 44.94, a price-to-earnings-growth ratio of 2.81 and a beta of 0.61. The stock’s 50 day moving average price is $85.50 and its two-hundred day moving average price is $86.95. The company has a quick ratio of 2.86, a current ratio of 4.28 and a debt-to-equity ratio of 0.48. Merit Medical Systems, Inc. has a 12-month low of $78.12 and a 12-month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. Merit Medical Systems had a return on equity of 14.27% and a net margin of 8.02%.The company had revenue of $384.16 million during the quarter, compared to analyst estimates of $371.69 million. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. On average, equities analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MMSI. Barrington Research reiterated an “outperform” rating and set a $106.00 price target on shares of Merit Medical Systems in a report on Friday, November 14th. Canaccord Genuity Group raised their price objective on shares of Merit Medical Systems from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Piper Sandler reiterated an “overweight” rating and issued a $109.00 target price (up from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Zacks Research downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, 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, October 31st. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $105.88.

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.