Merit Medical Systems, Inc. (NASDAQ:MMSI) Position Raised by Fmr LLC

Fmr LLC lifted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 70.1% in the 3rd quarter, Holdings Channel reports. The fund owned 1,577,246 shares of the medical instruments supplier’s stock after buying an additional 649,799 shares during the period. Fmr LLC’s holdings in Merit Medical Systems were worth $155,879,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new stake in shares of Merit Medical Systems during the first quarter valued at about $44,000. GAMMA Investing LLC increased its stake in shares of Merit Medical Systems by 142.3% during the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after acquiring an additional 488 shares during the period. OLD National Bancorp IN bought a new stake in Merit Medical Systems during the second quarter worth approximately $245,000. Opal Wealth Advisors LLC acquired a new stake in Merit Medical Systems in the second quarter worth approximately $29,000. Finally, SG Americas Securities LLC boosted its stake in Merit Medical Systems by 125.3% during the 2nd quarter. SG Americas Securities LLC now owns 9,479 shares of the medical instruments supplier’s stock valued at $815,000 after purchasing an additional 5,271 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Transactions at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the transaction, the chief financial officer now owns 16,361 shares in the company, valued at $1,603,705.22. This represents a 64.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,269,375.00. Following the completion of the sale, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. The trade was a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Merit Medical Systems Trading Down 0.0 %

Merit Medical Systems stock opened at $104.82 on Wednesday. Merit Medical Systems, Inc. has a 52 week low of $65.46 and a 52 week high of $106.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 2.60 and a beta of 0.84. The company has a 50 day moving average price of $99.26 and a 200 day moving average price of $92.10.

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

Analysts Set New Price Targets

A number of analysts have recently commented on MMSI shares. Wells Fargo & Company boosted their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Barrington Research reaffirmed an “outperform” rating and issued a $114.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. Robert W. Baird increased their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Bank of America lifted their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, nine have assigned 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 an average rating of “Moderate Buy” and a consensus target price of $103.36.

About Merit Medical Systems

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.