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

King Luther Capital Management Corp lowered its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,529 shares of the medical instruments supplier’s stock after selling 1,153 shares during the quarter. King Luther Capital Management Corp owned about 0.11% of Merit Medical Systems worth $6,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MMSI. Maseco LLP bought a new stake in Merit Medical Systems during the second quarter worth about $28,000. IFP Advisors Inc boosted its position in shares of 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 worth $32,000 after purchasing an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Merit Medical Systems by 119.8% in 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Merit Medical Systems by 55.6% in the 2nd 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 during the last quarter. Finally, Bayforest Capital Ltd bought a new position in Merit Medical Systems during the 1st quarter valued at approximately $41,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the completion of the sale, the director directly owned 12,809 shares of the company’s stock, valued at approximately $1,134,365.04. This represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

Merit Medical Systems Trading Up 1.2%

NASDAQ:MMSI opened at $87.55 on Monday. The company has a market cap of $5.19 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The company has a 50 day simple moving average of $84.62 and a two-hundred day simple moving average of $89.05. Merit Medical Systems, Inc. has a 12 month low of $78.12 and a 12 month high of $111.45.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on MMSI shares. Zacks Research raised Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Wells Fargo & Company cut their price objective on shares of Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Barrington Research lifted their target price on shares of Merit Medical Systems from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Robert W. Baird set a $103.00 price target on shares of Merit Medical Systems in a report on Friday, October 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $109.00 price objective (up from $105.00) on shares of Merit Medical Systems in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of “Buy” and an average target price of $106.50.

About Merit Medical Systems

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.