King Luther Capital Management Corp Sells 1,153 Shares of Merit Medical Systems, Inc. $MMSI

King Luther Capital Management Corp decreased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,529 shares of the medical instruments supplier’s stock after selling 1,153 shares during the quarter. King Luther Capital Management Corp’s holdings in Merit Medical Systems were worth $6,126,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new position in Merit Medical Systems in the 2nd quarter worth approximately $1,147,000. Wedbush Securities Inc. raised its position in shares of Merit Medical Systems by 26.3% during the second quarter. Wedbush Securities Inc. now owns 2,653 shares of the medical instruments supplier’s stock valued at $248,000 after buying an additional 553 shares during the last quarter. Bryn Mawr Trust Advisors LLC lifted its holdings in shares of Merit Medical Systems by 7.2% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 2,225 shares of the medical instruments supplier’s stock worth $208,000 after buying an additional 149 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Merit Medical Systems by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 428,084 shares of the medical instruments supplier’s stock worth $40,017,000 after acquiring an additional 2,261 shares during the last quarter. Finally, Corton Capital Inc. purchased a new position in Merit Medical Systems during the second quarter valued at $269,000. Institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $88.56, for a total value of $265,680.00. Following the transaction, the director owned 12,809 shares of the company’s stock, valued at $1,134,365.04. This represents a 18.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on MMSI shares. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price target on shares of Merit Medical Systems in a research note on Friday, October 31st. Canaccord Genuity Group increased their target price on Merit Medical Systems from $103.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Barrington Research boosted their price target on shares of Merit Medical Systems from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating and set a $109.00 price target (up previously from $105.00) on shares of Merit Medical Systems in a research note on Friday, October 31st. Finally, Zacks Research raised shares of Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $106.50.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI opened at $87.55 on Monday. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. Merit Medical Systems, Inc. has a 12 month low of $78.12 and a 12 month high of $111.45. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 44.44, a PEG ratio of 2.62 and a beta of 0.64. The firm’s 50-day moving average is $84.62 and its 200 day moving average is $89.05.

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, beating the consensus estimate of $0.82 by $0.10. The business had revenue of $384.20 million during the quarter, compared to analyst estimates of $371.69 million. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. Research analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.