Bank of New York Mellon Corp Sells 17,927 Shares of Merit Medical Systems, Inc. $MMSI

Bank of New York Mellon Corp lessened its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 383,776 shares of the medical instruments supplier’s stock after selling 17,927 shares during the period. Bank of New York Mellon Corp’s holdings in Merit Medical Systems were worth $26,454,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. State Street Corp grew its position in shares of Merit Medical Systems by 1.5% during the fourth quarter. State Street Corp now owns 2,231,048 shares of the medical instruments supplier’s stock worth $196,645,000 after purchasing an additional 32,459 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Merit Medical Systems by 3.9% during the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock valued at $149,407,000 after buying an additional 81,030 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Merit Medical Systems by 12.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,796 shares of the medical instruments supplier’s stock worth $183,137,000 after acquiring an additional 234,682 shares during the last quarter. Wellington Management Group LLP grew its stake in Merit Medical Systems by 7.0% during the fourth quarter. Wellington Management Group LLP now owns 1,327,013 shares of the medical instruments supplier’s stock valued at $116,963,000 after acquiring an additional 86,504 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Merit Medical Systems by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,225,013 shares of the medical instruments supplier’s stock valued at $107,974,000 after acquiring an additional 47,151 shares during the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Lynne N. Ward sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $62.61, for a total value of $313,050.00. Following the transaction, the director owned 7,809 shares of the company’s stock, valued at $488,921.49. This trade represents a 39.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian G. Lloyd acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average price of $62.62 per share, with a total value of $125,240.00. Following the acquisition, the insider directly owned 2,000 shares in the company, valued at $125,240. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MMSI. Weiss Ratings downgraded Merit Medical Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Robert W. Baird set a $83.00 price objective on Merit Medical Systems in a research note on Friday, May 1st. Barrington Research decreased their price objective on Merit Medical Systems from $109.00 to $107.00 and set an “outperform” rating on the stock in a report on Monday, April 20th. Wall Street Zen lowered shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 5th. Finally, Compass Point set a $107.00 price target on shares of Merit Medical Systems in a research report on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $92.80.

Merit Medical Systems Stock Up 2.4%

Shares of NASDAQ:MMSI opened at $76.10 on Tuesday. The firm has a market capitalization of $4.54 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.52. The business has a 50 day simple moving average of $68.44 and a two-hundred day simple moving average of $71.89. Merit Medical Systems, Inc. has a 1 year low of $59.74 and a 1 year high of $94.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.08 and a quick ratio of 3.46.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.10. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The firm had revenue of $381.88 million for the quarter, compared to the consensus estimate of $377.59 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. On average, equities analysts predict that Merit Medical Systems, Inc. will post 3.62 EPS for the current year.

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.