Corton Capital Inc. Acquires Shares of 2,879 Merit Medical Systems, Inc. $MMSI

Corton Capital Inc. acquired a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,879 shares of the medical instruments supplier’s stock, valued at approximately $269,000.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Merit Medical Systems by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 319,960 shares of the medical instruments supplier’s stock valued at $33,823,000 after buying an additional 7,940 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Merit Medical Systems by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 231,907 shares of the medical instruments supplier’s stock valued at $24,515,000 after purchasing an additional 815 shares in the last quarter. TD Private Client Wealth LLC increased its position in Merit Medical Systems by 22.3% in the first quarter. TD Private Client Wealth LLC now owns 2,119 shares of the medical instruments supplier’s stock worth $224,000 after purchasing an additional 387 shares during the last quarter. EULAV Asset Management raised its stake in Merit Medical Systems by 1.7% during the first quarter. EULAV Asset Management now owns 117,000 shares of the medical instruments supplier’s stock valued at $12,368,000 after purchasing an additional 2,000 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC lifted its position in Merit Medical Systems by 5.9% during the first quarter. MeadowBrook Investment Advisors LLC now owns 3,065 shares of the medical instruments supplier’s stock valued at $324,000 after purchasing an additional 170 shares during the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MMSI shares. Piper Sandler restated an “overweight” rating and issued a $109.00 target price (up from $105.00) on shares of Merit Medical Systems in a report on Friday. Robert W. Baird set a $103.00 price target on Merit Medical Systems in a research report on Friday. Raymond James Financial decreased their price objective on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Canaccord Genuity Group lifted their target price on Merit Medical Systems from $103.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $108.00 target price on shares of Merit Medical Systems in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Merit Medical Systems presently has an average rating of “Buy” and a consensus target price of $106.50.

Insider Buying and Selling at Merit Medical Systems

In other news, Director Lynne N. Ward sold 3,000 shares of the business’s stock in a transaction 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. The trade was a 18.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.20% of the company’s stock.

Merit Medical Systems Stock Down 0.2%

Shares of NASDAQ:MMSI opened at $87.34 on Tuesday. Merit Medical Systems, Inc. has a 1 year low of $78.12 and a 1 year high of $111.45. The business has a 50 day simple moving average of $84.84 and a two-hundred day simple moving average of $89.17. The firm has a market capitalization of $5.17 billion, a PE ratio of 44.34, a price-to-earnings-growth ratio of 2.62 and a beta of 0.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66.

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. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The firm had revenue of $384.20 million for the quarter, compared to the consensus estimate of $371.69 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 13.0% on a year-over-year basis. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. On average, equities analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Merit Medical Systems 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.