Bank of New York Mellon Corp Grows Stock Holdings in Merit Medical Systems, Inc. $MMSI

Bank of New York Mellon Corp boosted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 0.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 428,084 shares of the medical instruments supplier’s stock after purchasing an additional 2,261 shares during the period. Bank of New York Mellon Corp’s holdings in Merit Medical Systems were worth $40,017,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Maseco LLP acquired a new stake in shares of Merit Medical Systems during the 2nd quarter valued at about $28,000. IFP Advisors Inc raised its stake in Merit Medical Systems by 1,435.0% in the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock valued at $32,000 after purchasing an additional 287 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Merit Medical Systems by 55.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after buying an additional 134 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Merit Medical Systems during the first quarter worth $41,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barrington Research increased their price target on shares of Merit Medical Systems from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Zacks Research raised Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a research report on Friday, October 31st. Canaccord Genuity Group raised their target price on shares of Merit Medical Systems from $103.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Merit Medical Systems in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Merit Medical Systems has a consensus rating of “Buy” and an average target price of $106.50.

Insider Activity

In other news, Director Lynne N. Ward sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 12,809 shares of the company’s stock, valued at $1,134,365.04. This trade represents a 18.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $88.12 on Thursday. The firm has a market cap of $5.22 billion, a P/E ratio of 44.73, a P/E/G ratio of 2.62 and a beta of 0.64. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $84.51 and its 200 day moving average price is $88.97. 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 issued its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.10. The firm had revenue of $384.20 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. On average, equities research analysts expect that Merit Medical Systems, Inc. will post 3.37 earnings per share 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.