Comerica Bank grew its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,500 shares of the medical instruments supplier's stock after buying an additional 8,987 shares during the quarter. Comerica Bank owned approximately 0.36% of Merit Medical Systems worth $20,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. NewSquare Capital LLC acquired a new stake in Merit Medical Systems in the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter valued at $52,000. Federated Hermes Inc. boosted its holdings in Merit Medical Systems by 139.1% in the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after purchasing an additional 381 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock worth $134,000 after buying an additional 977 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Merit Medical Systems by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier's stock valued at $144,000 after buying an additional 191 shares in the last quarter. Institutional investors own 99.66% of the company's stock.
Insider Buying and Selling at Merit Medical Systems
In related news, insider Brian G. Lloyd sold 25,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the sale, the insider now directly owns 38,993 shares in the company, valued at $3,879,803.50. This represents a 39.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fred P. Lampropoulos sold 31,320 shares of Merit Medical Systems stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the transaction, the chief executive officer now owns 1,086,028 shares of the company's stock, valued at approximately $112,794,868.08. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Robert W. Baird cut their price objective on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They issued an "overweight" rating and a $120.00 price target on the stock. Piper Sandler decreased their price objective on shares of Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC dropped their target price on shares of Merit Medical Systems from $116.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Canaccord Genuity Group decreased their price target on shares of Merit Medical Systems from $127.00 to $108.00 and set a "buy" rating for the company in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.78.
View Our Latest Stock Analysis on MMSI
Merit Medical Systems Stock Down 1.3 %
MMSI stock opened at $93.20 on Friday. Merit Medical Systems, Inc. has a twelve month low of $76.52 and a twelve month high of $111.45. 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 company has a market cap of $5.51 billion, a PE ratio of 45.69, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85. The business's 50-day simple moving average is $97.78 and its 200 day simple moving average is $100.51.
Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.11. The company had revenue of $355.35 million for the quarter, compared to analyst estimates of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. Merit Medical Systems's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.
About Merit Medical Systems
(
Free Report)
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.
Further Reading
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