Talon Private Wealth LLC Takes Position in Merit Medical Systems, Inc. $MMSI

Talon Private Wealth LLC purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,597 shares of the medical instruments supplier’s stock, valued at approximately $593,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MMSI. California State Teachers Retirement System raised its position in Merit Medical Systems by 23.1% during the 1st quarter. California State Teachers Retirement System now owns 69,505 shares of the medical instruments supplier’s stock valued at $4,791,000 after purchasing an additional 13,039 shares in the last quarter. American Capital Management Inc. grew its position in shares of Merit Medical Systems by 24.4% during the 1st quarter. American Capital Management Inc. now owns 115,775 shares of the medical instruments supplier’s stock worth $7,980,000 after buying an additional 22,692 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Merit Medical Systems by 49.6% during the first quarter. The Manufacturers Life Insurance Company now owns 448,308 shares of the medical instruments supplier’s stock valued at $30,902,000 after buying an additional 148,703 shares during the period. Maverick Capital Ltd. increased its stake in shares of Merit Medical Systems by 46.9% during the first quarter. Maverick Capital Ltd. now owns 714,081 shares of the medical instruments supplier’s stock valued at $49,222,000 after buying an additional 227,915 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of Merit Medical Systems by 200.3% in the first quarter. Quantinno Capital Management LP now owns 17,612 shares of the medical instruments supplier’s stock valued at $1,214,000 after acquiring an additional 11,747 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MMSI. JPMorgan Chase & Co. cut their target price on shares of Merit Medical Systems from $95.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Weiss Ratings lowered shares of Merit Medical Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Barrington Research reduced their price objective on shares of Merit Medical Systems from $109.00 to $107.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. Needham & Company LLC lowered their target price on Merit Medical Systems from $101.00 to $90.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Wells Fargo & Company cut their price target on Merit Medical Systems from $78.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $92.80.

Insider Transactions at Merit Medical Systems

In related news, insider Brian G. Lloyd acquired 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were purchased at an average cost of $62.62 per share, with a total value of $125,240.00. Following the completion of the acquisition, the insider directly owned 2,000 shares of the company’s stock, valued at $125,240. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lynne N. Ward sold 5,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $62.61, for a total value of $313,050.00. Following the completion of the transaction, the director directly owned 7,809 shares in the company, valued at $488,921.49. This represents a 39.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.70% of the stock is currently owned by insiders.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $80.84 on Thursday. Merit Medical Systems, Inc. has a 12 month low of $59.74 and a 12 month high of $94.75. The stock has a fifty day moving average price of $69.06 and a 200-day moving average price of $71.71. The company has a current ratio of 5.08, a quick ratio of 3.46 and a debt-to-equity ratio of 0.45. The firm has a market cap of $4.82 billion, a PE ratio of 35.00, a P/E/G ratio of 2.44 and a beta of 0.52.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.10. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The firm had revenue of $381.88 million for the quarter, compared to the consensus estimate of $377.59 million. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.62 earnings per share for the current fiscal year.

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.