Brookstone Capital Management Buys New Stake in Merit Medical Systems, Inc. $MMSI

Brookstone Capital Management purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,892 shares of the medical instruments supplier’s stock, valued at approximately $574,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Merit Medical Systems in the 2nd quarter valued at about $53,697,000. Franklin Resources Inc. boosted its holdings in Merit Medical Systems by 25.9% in the second quarter. Franklin Resources Inc. now owns 884,607 shares of the medical instruments supplier’s stock valued at $82,693,000 after purchasing an additional 181,815 shares in the last quarter. Greenhouse Funds LLLP boosted its holdings in Merit Medical Systems by 44.2% in the second quarter. Greenhouse Funds LLLP now owns 587,912 shares of the medical instruments supplier’s stock valued at $54,958,000 after purchasing an additional 180,125 shares in the last quarter. Voya Investment Management LLC increased its stake in Merit Medical Systems by 57.9% in the third quarter. Voya Investment Management LLC now owns 489,504 shares of the medical instruments supplier’s stock valued at $40,741,000 after purchasing an additional 179,401 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Merit Medical Systems by 22.9% during the second quarter. William Blair Investment Management LLC now owns 739,600 shares of the medical instruments supplier’s stock worth $69,138,000 after purchasing an additional 137,956 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Trading Up 0.4%

Shares of Merit Medical Systems stock opened at $88.56 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.86 and a current ratio of 4.28. The company has a market capitalization of $5.25 billion, a P/E ratio of 45.42, a PEG ratio of 2.82 and a beta of 0.61. Merit Medical Systems, Inc. has a 1 year low of $78.12 and a 1 year high of $111.45. The company’s fifty day moving average is $86.06 and its two-hundred day moving average is $86.72.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. Merit Medical Systems had a net margin of 8.02% and a return on equity of 14.27%. The business had revenue of $384.16 million during the quarter, compared to analysts’ expectations of $371.69 million. During the same period in the prior year, the company earned $0.86 earnings per share. The business’s 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. Analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insider Buying and Selling

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total transaction of $880,400.00. Following the completion of the sale, the chairman directly owned 1,019,955 shares of the company’s stock, valued at approximately $89,796,838.20. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 60,000 shares of company stock worth $5,189,900. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MMSI. Weiss Ratings restated a “hold (c)” rating on shares of Merit Medical Systems in a report on Monday. Barrington Research reissued an “outperform” rating and issued a $106.00 price target on shares of Merit Medical Systems in a research report on Friday, November 14th. Zacks Research downgraded shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, October 31st. Finally, Canaccord Genuity Group lifted their target price on Merit Medical Systems from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and an average target price of $105.88.

Merit Medical Systems Company 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.