Winnow Wealth LLC Takes $831,000 Position in Merit Medical Systems, Inc. $MMSI

Winnow Wealth LLC purchased a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the third quarter, Holdings Channel reports. The institutional investor purchased 9,887 shares of the medical instruments supplier’s stock, valued at approximately $831,000.

Several other large investors have also recently bought and sold shares of MMSI. Salomon & Ludwin LLC acquired a new stake in Merit Medical Systems during the 3rd quarter worth about $37,000. First Horizon Corp purchased a new stake in shares of Merit Medical Systems in the third quarter worth approximately $78,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Merit Medical Systems by 745.9% during 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. Palouse Capital Management Inc. grew its position in Merit Medical Systems by 27.5% during the third quarter. Palouse Capital Management Inc. now owns 1,076 shares of the medical instruments supplier’s stock valued at $90,000 after purchasing an additional 232 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Merit Medical Systems in the 2nd quarter valued at approximately $162,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on MMSI. Needham & Company LLC reissued a “buy” rating and set a $108.00 target price on shares of Merit Medical Systems in a research note on Friday, January 9th. Wells Fargo & Company reduced their price objective on Merit Medical Systems from $103.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Robert W. Baird set a $108.00 target price on Merit Medical Systems in a research report on Tuesday, December 16th. Piper Sandler reiterated an “overweight” rating and set a $109.00 price target (up from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. Finally, Barrington Research reissued an “outperform” rating and issued a $106.00 price target on shares of Merit Medical Systems in a research note on Friday, November 14th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.88.

Merit Medical Systems Stock Performance

MMSI opened at $81.09 on Friday. 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 cap of $4.81 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 2.18 and a beta of 0.62. The stock has a 50-day moving average of $85.57 and a 200-day moving average of $85.40. Merit Medical Systems, Inc. has a 52-week low of $78.12 and a 52-week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share (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 firm had revenue of $384.16 million during the quarter, compared to analysts’ expectations of $371.69 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Merit Medical Systems news, Chairman Fred P. Lampropoulos sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $88.04, for a total value of $880,400.00. Following the sale, the chairman owned 1,019,955 shares of the company’s stock, valued at $89,796,838.20. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 60,000 shares of company stock worth $5,189,900. 3.20% of the stock is owned by corporate insiders.

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.