Amalgamated Bank Sells 639 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Amalgamated Bank lowered its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,072 shares of the medical instruments supplier’s stock after selling 639 shares during the quarter. Amalgamated Bank’s holdings in Merit Medical Systems were worth $1,687,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UniSuper Management Pty Ltd bought a new stake in Merit Medical Systems during the first quarter worth $1,083,000. Quantbot Technologies LP boosted its holdings in shares of Merit Medical Systems by 17,716.1% in the 1st quarter. Quantbot Technologies LP now owns 9,977 shares of the medical instruments supplier’s stock worth $756,000 after buying an additional 9,921 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Merit Medical Systems by 36.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,144 shares of the medical instruments supplier’s stock valued at $1,638,000 after buying an additional 5,915 shares during the period. Lazard Asset Management LLC increased its holdings in Merit Medical Systems by 1,147.3% during the first quarter. Lazard Asset Management LLC now owns 7,858 shares of the medical instruments supplier’s stock worth $594,000 after buying an additional 7,228 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock worth $63,543,000 after acquiring an additional 22,077 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $104.24 on Wednesday. The company’s 50 day simple moving average is $97.34 and its two-hundred day simple moving average is $89.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems, Inc. has a 1 year low of $65.46 and a 1 year high of $105.46. The stock has a market capitalization of $6.08 billion, a PE ratio of 51.03, a P/E/G ratio of 2.55 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. During the same quarter last year, the business posted $0.75 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Insider Transactions at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the sale, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at $1,603,705.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on MMSI. Needham & Company LLC restated a “buy” rating and set a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Robert W. Baird raised their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Bank of America upped their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $103.36.

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.