Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 425,823 shares of the medical instruments supplier's stock after selling 13,437 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.72% of Merit Medical Systems worth $45,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in shares of Merit Medical Systems in the fourth quarter worth about $66,638,000. Raymond James Financial Inc. purchased a new stake in Merit Medical Systems in the 4th quarter valued at about $48,926,000. FMR LLC grew its stake in Merit Medical Systems by 31.6% in the 4th quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier's stock worth $200,833,000 after acquiring an additional 499,193 shares in the last quarter. Groupama Asset Managment purchased a new position in shares of Merit Medical Systems during the fourth quarter worth approximately $38,688,000. Finally, Tidal Investments LLC raised its stake in shares of Merit Medical Systems by 3,197.9% during the fourth quarter. Tidal Investments LLC now owns 342,912 shares of the medical instruments supplier's stock valued at $33,166,000 after acquiring an additional 332,514 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Wall Street Analyst Weigh In

MMSI has been the topic of several research analyst reports. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a research note on Friday, March 28th. They issued an "overweight" rating and a $120.00 price objective on the stock. Piper Sandler reissued an "overweight" rating and set a $110.00 price target (up previously from $106.00) on shares of Merit Medical Systems in a research report on Friday, May 23rd. Barrington Research cut their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $108.00 price objective (up from $106.00) on shares of Merit Medical Systems in a research note on Wednesday, May 21st. Finally, Raymond James Financial dropped their target price on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a 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 data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and an average target price of $109.11.

Merit Medical Systems Stock Down 0.0%

Merit Medical Systems stock traded down $0.04 during trading hours on Monday, reaching $93.45. The stock had a trading volume of 406,420 shares, compared to its average volume of 640,635. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 45.81, a PEG ratio of 3.02 and a beta of 0.65. The business's 50 day moving average price is $94.70 and its 200-day moving average price is $98.39. Merit Medical Systems, Inc. has a 52 week low of $82.62 and a 52 week high of $111.45. 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 issued 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 net margin of 8.81% and a return on equity of 15.52%. The firm had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. During the same quarter in the previous year, the firm earned $0.77 EPS. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 15,181 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the sale, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Floyd sold 3,515 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $94.16, for a total value of $330,972.40. Following the sale, the director owned 4,880 shares in the company, valued at $459,500.80. The trade was a 41.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,596 shares of company stock valued at $8,171,433. Corporate 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.