Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC cut its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 18.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,895 shares of the medical instruments supplier’s stock after selling 635 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Merit Medical Systems were worth $286,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the 2nd quarter valued at about $29,000. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems during the 1st quarter worth approximately $44,000. Headlands Technologies LLC acquired a new stake in Merit Medical Systems during the 1st quarter worth approximately $50,000. USA Financial Formulas acquired a new stake in Merit Medical Systems during the 3rd quarter worth approximately $59,000. Finally, EntryPoint Capital LLC lifted its position in Merit Medical Systems by 2,666.7% during the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after acquiring an additional 880 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Bank of America increased their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company raised 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $103.36.

Insiders Place Their Bets

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was 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. The trade was 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 this hyperlink. 3.70% of the stock is currently owned by insiders.

Merit Medical Systems Trading Down 0.5 %

Shares of MMSI stock traded down $0.47 during mid-day trading on Thursday, hitting $101.21. 41,671 shares of the company’s stock were exchanged, compared to its average volume of 439,864. Merit Medical Systems, Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $105.46. The stock has a 50-day simple moving average of $97.62 and a two-hundred day simple moving average of $89.62. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 49.66, a PEG ratio of 2.59 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating 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 firm had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts expect that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

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.