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Conestoga Capital Advisors LLC Has $239.45 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Merit Medical Systems logo with Medical background

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 the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,265,173 shares of the medical instruments supplier's stock after selling 24,730 shares during the period. Merit Medical Systems comprises 3.6% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 5th largest 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 hedge funds also recently bought and sold shares of the company. Pictet Asset Management Holding SA raised its stake in shares of Merit Medical Systems by 13.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the medical instruments supplier's stock worth $839,000 after acquiring an additional 1,049 shares in the last quarter. Lazard Asset Management LLC grew its holdings 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 purchasing an additional 3,600 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Merit Medical Systems in the 4th quarter worth $48,926,000. Victory Capital Management Inc. raised its position in 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 purchasing an additional 19,001 shares during the period. Finally, Group One Trading LLC bought a new stake in Merit Medical Systems in the fourth quarter worth $77,000. Institutional investors own 99.66% of the company's stock.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 20,000 shares of Merit Medical Systems 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 transaction, the chief executive officer now owns 1,066,028 shares in the company, valued at approximately $102,914,343.12. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director F. Ann Millner sold 21,250 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $96.47, for a total value of $2,049,987.50. Following the completion of the sale, the director now directly owns 34,543 shares in the company, valued at $3,332,363.21. This trade represents a 38.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,596 shares of company stock valued at $8,171,433. 3.20% of the stock is currently owned by corporate insiders.

Merit Medical Systems Trading Down 1.0%

MMSI stock traded down $0.97 on Friday, reaching $91.98. The company's stock had a trading volume of 960,834 shares, compared to its average volume of 534,165. The firm has a market cap of $5.44 billion, a PE ratio of 45.09, a PEG ratio of 3.06 and a beta of 0.66. The business has a fifty day simple moving average of $94.53 and a two-hundred day simple moving average of $99.29. Merit Medical Systems, Inc. has a 12-month low of $80.84 and a 12-month high of $111.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.26 and a current ratio of 4.87.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MMSI. Canaccord Genuity Group set a $112.00 price objective on Merit Medical Systems and gave the company a "buy" rating in a research note on Wednesday, May 21st. Piper Sandler restated an "overweight" rating and set a $110.00 target price (up from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $108.00 price target (up from $106.00) on shares of Merit Medical Systems in a research note on Wednesday, May 21st. Robert W. Baird cut their target price on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Needham & Company LLC upped their price target on shares of Merit Medical Systems from $100.00 to $108.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $109.11.

Read Our Latest Report on Merit Medical Systems

About Merit Medical Systems

(Free Report)

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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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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