Algert Global LLC Invests $441,000 in Merit Medical Systems, Inc. $MMSI

Key Points

• Algert Global LLC has acquired a new stake in Merit Medical Systems, Inc., purchasing 4,170 shares valued at approximately $441,000.
• Merit Medical reported a quarterly earnings per share of $1.01, exceeding analysts' estimates of $0.85, and achieved a revenue of $382.46 million for the quarter, up 13.2% year-over-year.
• Merit Medical's stock has a consensus rating of "Moderate Buy" from analysts, with an average target price of $107.00.

Algert Global LLC purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,170 shares of the medical instruments supplier's stock, valued at approximately $441,000.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems in the first quarter valued at about $31,000. IFP Advisors Inc lifted its holdings in shares of Merit Medical Systems by 1,435.0% in the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock valued at $32,000 after purchasing an additional 287 shares in the last quarter. Bayforest Capital Ltd bought a new stake in Merit Medical Systems during the first quarter worth about $41,000. Versant Capital Management Inc raised its holdings 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 acquiring an additional 410 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in Merit Medical Systems during the first quarter worth about $60,000. 99.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on MMSI shares. Wells Fargo & Company dropped their target price on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Barrington Research reiterated an "outperform" rating and set a $103.00 target price on shares of Merit Medical Systems in a report on Thursday, July 31st. Needham & Company LLC reiterated a "buy" rating and set a $108.00 target price on shares of Merit Medical Systems in a report on Friday, July 18th. Raymond James Financial dropped their target price on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Finally, Canaccord Genuity Group set a $112.00 target price on Merit Medical Systems and gave the stock a "buy" rating in a report on Wednesday, May 21st. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Merit Medical Systems presently has an average rating of "Moderate Buy" and an average price target of $107.00.

Merit Medical Systems Stock Performance

NASDAQ:MMSI traded up $0.49 on Friday, hitting $90.54. The company's stock had a trading volume of 366,258 shares, compared to its average volume of 478,851. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $88.41 and a two-hundred day moving average of $94.37. The firm has a market capitalization of $5.36 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66. Merit Medical Systems, Inc. has a one year low of $81.04 and a one year high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $382.46 million for the quarter, compared to analyst estimates of $372.47 million. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The business's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. Research analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Raul Jr. Parra sold 15,181 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $93.75, for a total transaction of $1,423,218.75. Following the transaction, the chief financial officer owned 24,201 shares in the company, valued at approximately $2,268,843.75. This trade represents a 38.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Fred P. Lampropoulos sold 400 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $95.61, for a total value of $38,244.00. Following the transaction, the chief executive officer owned 1,045,628 shares in the company, valued at approximately $99,972,493.08. This trade represents a 0.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,514 shares of company stock worth $2,264,465 over the last ninety days. 3.20% 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.