34,130 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Acquired by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 34,130 shares of the medical instruments supplier's stock, valued at approximately $3,608,000. Lisanti Capital Growth LLC owned about 0.06% of Merit Medical Systems at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Merit Medical Systems during the first quarter worth approximately $31,000. NewSquare Capital LLC acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $32,000. Versant Capital Management Inc lifted its position in shares of Merit Medical Systems by 1,518.5% during the 1st quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock valued at $46,000 after acquiring an additional 410 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Merit Medical Systems during the fourth quarter worth $52,000. Finally, Federated Hermes Inc. boosted its position in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after buying an additional 381 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MMSI. Barrington Research lowered their target price on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Robert W. Baird cut their price target on shares of 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. Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 price objective (up from $106.00) on shares of Merit Medical Systems in a research note on Friday, May 23rd. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Raymond James Financial lowered their price objective on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Merit Medical Systems has an average rating of "Moderate Buy" and a consensus target price of $109.11.

Merit Medical Systems Stock Performance

MMSI traded down $0.47 during trading hours on Wednesday, hitting $93.51. 336,902 shares of the stock were exchanged, compared to its average volume of 536,380. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 45.84, a price-to-earnings-growth ratio of 3.08 and a beta of 0.65. Merit Medical Systems, Inc. has a 12 month low of $82.62 and a 12 month high of $111.45. The stock has a 50-day simple moving average of $94.80 and a 200-day simple moving average of $98.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.87 and a quick ratio of 3.26.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.52% and a net margin of 8.81%. The business had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. During the same quarter last year, the business posted $0.77 EPS. The business's revenue was up 9.8% on a year-over-year basis. Analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insider Activity at Merit Medical Systems

In other news, Director David Floyd sold 3,515 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $94.16, for a total transaction of $330,972.40. Following the transaction, the director directly owned 4,880 shares of the company's stock, valued at approximately $459,500.80. This trade represents a 41.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Mcdonnell sold 1,750 shares of Merit Medical Systems 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 sale, the director owned 6,395 shares in the company, valued at approximately $604,391.45. This represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,596 shares of company stock valued at $8,171,433. Company insiders own 3.70% of the company's stock.

Merit Medical Systems Company 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.