Central Pacific Bank Trust Division Takes $133,000 Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Central Pacific Bank Trust Division acquired a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,770 shares of the medical instruments supplier’s stock, valued at approximately $133,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valued Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems in the 4th quarter valued at about $29,000. Parallel Advisors LLC lifted its stake in shares of Merit Medical Systems by 114.6% in the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 212 shares in the last quarter. Tompkins Financial Corp acquired a new position in shares of Merit Medical Systems in the 4th quarter valued at about $38,000. Fidelis Capital Partners LLC acquired a new position in shares of Merit Medical Systems in the 1st quarter valued at about $90,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Merit Medical Systems during the 4th quarter valued at about $96,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Needham & Company LLC raised their target price on Merit Medical Systems from $85.00 to $93.00 and gave the company a “buy” rating in a report on Monday, July 1st. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Piper Sandler raised their target price on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Robert W. Baird assumed coverage on Merit Medical Systems in a report on Friday, June 28th. They set an “outperform” rating and a $96.00 target price on the stock. Finally, CL King started coverage on Merit Medical Systems in a report on Thursday, April 11th. They set a “buy” rating and a $88.00 target price on the stock. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $96.20.

Insider Transactions at Merit Medical Systems

In other news, COO Neil Peterson sold 7,500 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the sale, the chief operating officer now directly owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the transaction, the chief operating officer now directly owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the transaction, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Merit Medical Systems Price Performance

Shares of MMSI traded up $0.64 during midday trading on Wednesday, reaching $86.59. The stock had a trading volume of 19,400 shares, compared to its average volume of 445,127. The firm’s 50 day moving average price is $82.00 and its 200-day moving average price is $78.22. The company has a market capitalization of $5.03 billion, a P/E ratio of 49.40, a P/E/G ratio of 2.39 and a beta of 0.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38. Merit Medical Systems, Inc. has a 52 week low of $62.58 and a 52 week high of $87.44.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $323.51 million for the quarter, compared to analyst estimates of $315.57 million. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. Merit Medical Systems’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, analysts forecast that Merit Medical Systems, Inc. will post 3.27 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.