Fort Washington Investment Advisors Inc. OH Buys 123,912 Shares of Merit Medical Systems, Inc. $MMSI

Fort Washington Investment Advisors Inc. OH increased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 69.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 301,718 shares of the medical instruments supplier’s stock after acquiring an additional 123,912 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Merit Medical Systems were worth $25,112,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MMSI. Maseco LLP acquired a new position in Merit Medical Systems during the 2nd quarter worth $28,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Merit Medical Systems by 55.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 134 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Merit Medical Systems by 119.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Merit Medical Systems in the first quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC increased its position in Merit Medical Systems by 745.9% in the second quarter. EverSource Wealth Advisors LLC now owns 922 shares of the medical instruments supplier’s stock worth $86,000 after purchasing an additional 813 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Trading Up 0.4%

Shares of NASDAQ MMSI opened at $88.56 on Wednesday. Merit Medical Systems, Inc. has a twelve month low of $78.12 and a twelve month high of $111.45. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 45.42, a P/E/G ratio of 2.82 and a beta of 0.61. The company has a quick ratio of 2.86, a current ratio of 4.28 and a debt-to-equity ratio of 0.48. The company’s fifty day moving average is $86.06 and its 200-day moving average is $86.72.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Thursday, October 30th. The medical instruments supplier reported $0.92 EPS for the quarter, topping the consensus estimate of $0.82 by $0.10. The business had revenue of $384.16 million for the quarter, compared to the consensus estimate of $371.69 million. Merit Medical Systems had a return on equity of 14.27% and a net margin of 8.02%.The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Activity at Merit Medical Systems

In other news, Chairman Fred P. Lampropoulos sold 10,000 shares of Merit Medical Systems stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total transaction of $880,400.00. Following the transaction, the chairman owned 1,019,955 shares in the company, valued at $89,796,838.20. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 60,000 shares of company stock worth $5,189,900 over the last quarter. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research lowered shares of Merit Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Barrington Research restated an “outperform” rating and issued a $106.00 price objective on shares of Merit Medical Systems in a report on Friday, November 14th. Wells Fargo & Company lowered their target price on shares of Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Canaccord Genuity Group upped their target price 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. Finally, Piper Sandler restated an “overweight” rating and issued a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.