Fifth Third Bancorp Buys 311,760 Shares of Merit Medical Systems, Inc. $MMSI

Fifth Third Bancorp lifted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 24,625.6% during the first quarter, Holdings Channel.com reports. The fund owned 313,026 shares of the medical instruments supplier’s stock after buying an additional 311,760 shares during the period. Fifth Third Bancorp’s holdings in Merit Medical Systems were worth $21,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new position in Merit Medical Systems during the fourth quarter valued at approximately $25,000. Maseco LLP bought a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $26,000. Torren Management LLC bought a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $38,000. Covestor Ltd boosted its holdings in shares of Merit Medical Systems by 252.6% in the 4th quarter. Covestor Ltd now owns 469 shares of the medical instruments supplier’s stock valued at $41,000 after buying an additional 336 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at approximately $42,000. Institutional investors own 99.66% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MMSI. Compass Point set a $107.00 price target on shares of Merit Medical Systems in a research report on Monday, April 20th. Wells Fargo & Company decreased their price objective on shares of Merit Medical Systems from $78.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Canaccord Genuity Group decreased their price objective on shares of Merit Medical Systems from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Needham & Company LLC lowered their price objective on shares of Merit Medical Systems from $101.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of Merit Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 5th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.80.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $73.26 on Tuesday. The firm has a market cap of $4.37 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.28 and a beta of 0.52. The business’s 50 day moving average is $66.01 and its 200-day moving average is $72.92. The company has a current ratio of 5.08, a quick ratio of 3.46 and a debt-to-equity ratio of 0.45. Merit Medical Systems, Inc. has a 1-year low of $59.74 and a 1-year high of $94.75.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share (EPS) for the quarter, beating 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 business had revenue of $381.88 million during the quarter, compared to the consensus estimate of $377.59 million. During the same period in the previous year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.010-4.150 EPS. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.62 earnings per share for the current 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.