Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 8.0% during the third quarter, HoldingsChannel reports. The fund owned 727,340 shares of the medical instruments supplier’s stock after acquiring an additional 54,122 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Merit Medical Systems were worth $71,883,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its stake in shares of Merit Medical Systems by 17.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,797 shares of the medical instruments supplier’s stock worth $288,000 after buying an additional 572 shares in the last quarter. Lazard Asset Management LLC raised its position in Merit Medical Systems by 1,147.3% in the first quarter. Lazard Asset Management LLC now owns 7,858 shares of the medical instruments supplier’s stock worth $594,000 after acquiring an additional 7,228 shares in the last quarter. Hancock Whitney Corp acquired a new stake in Merit Medical Systems in the first quarter valued at $599,000. Soltis Investment Advisors LLC boosted its position in shares of Merit Medical Systems by 38.6% during the 1st quarter. Soltis Investment Advisors LLC now owns 7,419 shares of the medical instruments supplier’s stock worth $562,000 after purchasing an additional 2,065 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Merit Medical Systems during the 1st quarter worth $44,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MMSI. Robert W. Baird boosted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Bank of America upped their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.36.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $103.66 on Friday. Merit Medical Systems, Inc. has a 1 year low of $65.46 and a 1 year high of $106.87. The company’s 50 day simple moving average is $98.98 and its 200 day simple moving average is $91.50. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 2.60 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

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

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares in the company, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Raul Jr. Parra sold 29,646 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was 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 owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Merit Medical Systems Company 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.