Portside Wealth Group LLC bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,285 shares of the medical instruments supplier's stock, valued at approximately $318,000.
A number of other hedge funds have also bought and sold shares of MMSI. NewSquare Capital LLC bought a new position in Merit Medical Systems during the fourth quarter worth $32,000. Versant Capital Management Inc raised its stake in Merit Medical Systems by 1,518.5% during the first quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock worth $46,000 after buying an additional 410 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Merit Medical Systems during the fourth quarter worth $52,000. Federated Hermes Inc. raised its stake in Merit Medical Systems by 139.1% during the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after buying an additional 381 shares during the last quarter. Finally, Group One Trading LLC bought a new position in Merit Medical Systems during the fourth quarter worth $77,000. Institutional investors own 99.66% of the company's stock.
Merit Medical Systems Stock Up 1.0%
Shares of NASDAQ MMSI opened at $95.21 on Friday. The stock has a market capitalization of $5.63 billion, a P/E ratio of 46.67, a P/E/G ratio of 2.34 and a beta of 0.70. The company has a 50-day moving average price of $94.98 and a 200-day moving average price of $100.02. Merit Medical Systems, Inc. has a 1 year low of $80.02 and a 1 year high of $111.45. 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 (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.11. The firm had revenue of $355.35 million during the quarter, compared to analysts' expectations of $352.57 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business's revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. On average, equities research analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
MMSI has been the subject of a number of analyst reports. Wells Fargo & Company reissued an "overweight" rating and set a $108.00 target price (up previously from $106.00) on shares of Merit Medical Systems in a research note on Wednesday, May 21st. Canaccord Genuity Group set a $112.00 price target on shares of Merit Medical Systems and gave the company a "buy" rating in a research note on Wednesday, May 21st. Raymond James decreased their price target on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 price target (up from $106.00) on shares of Merit Medical Systems in a research note on Friday, May 23rd. Finally, Robert W. Baird decreased their price target on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $109.11.
Get Our Latest Stock Analysis on MMSI
Insider Buying and Selling
In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 20,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $96.54, for a total value of $1,930,800.00. Following the transaction, the chief executive officer now directly owns 1,066,028 shares in the company, valued at $102,914,343.12. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael R. Mcdonnell sold 1,750 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $94.51, for a total transaction of $165,392.50. Following the completion of the transaction, the director now owns 6,395 shares in the company, valued at approximately $604,391.45. The trade was a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,015 shares of company stock worth $6,709,970. 3.20% of the stock is owned by insiders.
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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