Quantbot Technologies LP Takes $2.47 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Quantbot Technologies LP bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the third quarter, Holdings Channel.com reports. The fund bought 24,971 shares of the medical instruments supplier’s stock, valued at approximately $2,468,000.

Other large investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Merit Medical Systems by 70.1% in the third quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock valued at $155,879,000 after purchasing an additional 649,799 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Merit Medical Systems by 147.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after buying an additional 377,851 shares during the last quarter. International Assets Investment Management LLC bought a new position in Merit Medical Systems in the 3rd quarter valued at about $21,156,000. Handelsbanken Fonder AB lifted its position in Merit Medical Systems by 1,343.5% during the third quarter. Handelsbanken Fonder AB now owns 192,109 shares of the medical instruments supplier’s stock worth $18,986,000 after acquiring an additional 178,800 shares during the last quarter. Finally, F M Investments LLC bought a new stake in shares of Merit Medical Systems during the second quarter worth approximately $12,550,000. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Down 0.3 %

Shares of MMSI opened at $103.66 on Friday. The firm has a 50 day simple moving average of $98.98 and a two-hundred day simple moving average of $91.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems, Inc. has a one year low of $65.46 and a one year high of $106.87. The company has a market cap of $6.04 billion, a P/E ratio of 50.81, a P/E/G ratio of 2.60 and a beta of 0.89.

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 analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. Merit Medical Systems’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. Research analysts forecast that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MMSI shares. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note 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. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Barrington Research reaffirmed an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. 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 stock. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.36.

Insider Activity

In related news, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 16,361 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Also, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction that occurred 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 owns 32,391 shares in the company, valued at $3,289,306.05. This represents 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 corporate insiders.

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.