70,069 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Acquired by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 70,069 shares of the medical instruments supplier's stock, valued at approximately $7,407,000. Mountain Pacific Investment Advisers LLC owned 0.12% of Merit Medical Systems at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new stake in Merit Medical Systems in the first quarter valued at approximately $31,000. NewSquare Capital LLC acquired a new stake in Merit Medical Systems in the fourth quarter valued at approximately $32,000. Versant Capital Management Inc grew its stake in Merit Medical Systems by 1,518.5% in the first 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 acquired a new stake in Merit Medical Systems in the fourth quarter valued at approximately $52,000. Finally, Federated Hermes Inc. grew its stake 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 valued at $63,000 after acquiring an additional 381 shares during the period. Institutional investors and hedge funds own 99.66% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler reiterated an "overweight" rating and set a $110.00 price target (up from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the stock a "buy" rating in a report on Wednesday, May 21st. Raymond James dropped their price target on Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company reiterated an "overweight" rating and set a $108.00 price target (up from $106.00) on shares of Merit Medical Systems in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a report on Friday, March 28th. They set an "overweight" rating and a $120.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $109.11.

Insiders Place Their Bets

In other news, CEO Fred P. Lampropoulos sold 20,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $96.54, for a total transaction of $1,930,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,066,028 shares in the company, valued at $102,914,343.12. This represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director F. Ann Millner sold 21,250 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $96.47, for a total transaction of $2,049,987.50. Following the completion of the transaction, the director now owns 34,543 shares in the company, valued at $3,332,363.21. The trade was a 38.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,415 shares of company stock worth $6,748,214. Company insiders own 3.20% of the company's stock.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $92.97 on Monday. Merit Medical Systems, Inc. has a 52 week low of $80.02 and a 52 week high of $111.45. The business has a 50-day simple moving average of $94.51 and a 200 day simple moving average of $99.54. 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 $5.49 billion, a price-to-earnings ratio of 45.57, a PEG ratio of 2.34 and a beta of 0.66.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The firm had revenue of $355.35 million during the quarter, compared to analysts' expectations of $352.57 million. During the same period in the prior year, the business earned $0.77 EPS. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

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.

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