2,500 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Purchased by Marco Investment Management LLC

Marco Investment Management LLC acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the medical instruments supplier’s stock, valued at approximately $247,000.

Several other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of Merit Medical Systems by 2.9% during the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after buying an additional 118 shares during the last quarter. Xponance Inc. increased its stake in Merit Medical Systems by 4.9% in the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after purchasing an additional 170 shares during the period. Park Avenue Securities LLC increased its stake in Merit Medical Systems by 5.9% in the third quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier’s stock worth $394,000 after purchasing an additional 223 shares during the period. Blue Trust Inc. lifted its position in shares of Merit Medical Systems by 19.7% during the second quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier’s stock worth $123,000 after purchasing an additional 235 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after purchasing an additional 260 shares during the period. Institutional investors own 99.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MMSI. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Bank of America lifted their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Wells Fargo & Company boosted their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Needham & Company LLC restated a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Finally, Robert W. Baird lifted their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $103.36.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the transaction, the director now directly owns 32,391 shares in the company, valued at $3,289,306.05. The trade was a 27.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. This trade represents 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 currently owned by company insiders.

Merit Medical Systems Trading Up 0.3 %

Shares of NASDAQ:MMSI opened at $105.33 on Monday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $6.14 billion, a PE ratio of 51.63, a P/E/G ratio of 2.62 and a beta of 0.89. Merit Medical Systems, Inc. has a 12-month low of $65.46 and a 12-month high of $106.87. The business’s fifty day simple moving average is $98.59 and its 200-day simple moving average is $90.99.

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