Park Avenue Securities LLC Buys 223 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Park Avenue Securities LLC grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,991 shares of the medical instruments supplier’s stock after acquiring an additional 223 shares during the quarter. Park Avenue Securities LLC’s holdings in Merit Medical Systems were worth $394,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Merit Medical Systems in the second quarter worth about $29,000. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems in the first quarter worth about $44,000. Headlands Technologies LLC acquired a new stake in Merit Medical Systems in the first quarter worth about $50,000. GAMMA Investing LLC boosted its holdings in Merit Medical Systems by 142.3% in the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock worth $71,000 after acquiring an additional 488 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in Merit Medical Systems in the second quarter worth about $77,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MMSI. Robert W. Baird initiated coverage on Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price target for the company. Bank of America lifted their target price on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Barrington Research lifted their target price on Merit Medical Systems from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a report on Monday, September 16th. Finally, Wells Fargo & Company lifted their target price on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.82.

Merit Medical Systems Stock Up 0.6 %

Shares of MMSI stock opened at $94.35 on Friday. The stock has a 50 day moving average of $94.98 and a 200 day moving average of $85.53. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The stock has a market cap of $5.48 billion, a P/E ratio of 54.22, a P/E/G ratio of 2.41 and a beta of 0.87. Merit Medical Systems, Inc. has a twelve month low of $62.58 and a twelve month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $338.00 million during the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. As a group, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.31 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.