Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC trimmed its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,265,173 shares of the medical instruments supplier's stock after selling 24,730 shares during the period. Merit Medical Systems comprises about 3.6% of Conestoga Capital Advisors LLC's portfolio, making the stock its 5th biggest position. Conestoga Capital Advisors LLC owned 3.83% of Merit Medical Systems worth $239,451,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA lifted its stake in Merit Medical Systems by 13.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the medical instruments supplier's stock valued at $839,000 after buying an additional 1,049 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Merit Medical Systems by 332.7% during the 4th quarter. Lazard Asset Management LLC now owns 4,682 shares of the medical instruments supplier's stock valued at $452,000 after acquiring an additional 3,600 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $48,926,000. Victory Capital Management Inc. grew its holdings in shares of Merit Medical Systems by 32.1% in the 4th quarter. Victory Capital Management Inc. now owns 78,171 shares of the medical instruments supplier's stock worth $7,561,000 after acquiring an additional 19,001 shares during the period. Finally, Group One Trading LLC acquired a new stake in shares of Merit Medical Systems in the 4th quarter worth approximately $77,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Fred P. Lampropoulos sold 400 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $95.61, for a total value of $38,244.00. Following the completion of the sale, the chief executive officer now owns 1,045,628 shares in the company, valued at approximately $99,972,493.08. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Raul Jr. Parra sold 15,181 shares of Merit Medical Systems 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 sale, the chief financial officer now directly owns 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 disclosure for this sale can be found here. Insiders have sold a total of 85,596 shares of company stock valued at $8,171,433 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI traded up $0.05 on Wednesday, reaching $92.95. 336,019 shares of the company traded hands, compared to its average volume of 532,457. The stock has a market capitalization of $5.49 billion, a PE ratio of 45.56, a P/E/G ratio of 3.06 and a beta of 0.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.87 and a quick ratio of 3.26. The company's 50 day moving average is $94.56 and its 200-day moving average is $99.42. Merit Medical Systems, Inc. has a fifty-two week low of $80.84 and a fifty-two week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share 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 business had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. During the same period in the prior year, the business posted $0.77 earnings per share. Merit Medical Systems's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MMSI has been the subject of several research reports. Barrington Research cut their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. started coverage on Merit Medical Systems in a report on Friday, March 28th. They issued an "overweight" rating and a $120.00 price target for the company. 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 note on Friday, May 23rd. Raymond James Financial lowered their price objective on 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. Finally, Needham & Company LLC increased their price objective on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $109.11.

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.