Merit Medical Systems, Inc. $MMSI Shares Purchased by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC increased its holdings in Merit Medical Systems by 99.2%, acquiring an additional 60,221 shares, bringing its total ownership to $12,786,000.
• A number of analysts have set new price targets for Merit Medical Systems, with consensus suggesting a target price of $107.00 and a "Moderate Buy" rating from eight analysts.
• Insider sales included CEO Fred P. Lampropoulos and CFO Raul Jr. Parra, who sold a combined total of 15,581 shares, reflecting a fluctuation in executive ownership.

Curi RMB Capital LLC boosted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 99.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 120,952 shares of the medical instruments supplier's stock after purchasing an additional 60,221 shares during the period. Curi RMB Capital LLC owned about 0.20% of Merit Medical Systems worth $12,786,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in Merit Medical Systems by 3.7% during the 4th quarter. Ameriprise Financial Inc. now owns 315,324 shares of the medical instruments supplier's stock worth $30,498,000 after purchasing an additional 11,335 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Merit Medical Systems by 8.2% in the fourth quarter. Benjamin Edwards Inc. now owns 5,896 shares of the medical instruments supplier's stock valued at $570,000 after buying an additional 446 shares during the last quarter. Bank of America Corp DE lifted its holdings in Merit Medical Systems by 6.6% during the 4th quarter. Bank of America Corp DE now owns 590,598 shares of the medical instruments supplier's stock worth $57,123,000 after buying an additional 36,535 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Merit Medical Systems by 8.7% during the 4th quarter. Cetera Investment Advisers now owns 10,093 shares of the medical instruments supplier's stock worth $976,000 after acquiring an additional 804 shares in the last quarter. Finally, Caption Management LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter worth about $484,000. Institutional investors and hedge funds own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

MMSI traded down $0.64 during trading on Monday, reaching $92.33. The company's stock had a trading volume of 639,498 shares, compared to its average volume of 646,244. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 46.87, a price-to-earnings-growth ratio of 3.01 and a beta of 0.64. The company's fifty day moving average price is $88.24 and its 200-day moving average price is $93.70. Merit Medical Systems, Inc. has a 52-week low of $81.04 and a 52-week high of $111.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MMSI shares. Needham & Company LLC reissued a "buy" rating and set a $108.00 target price on shares of Merit Medical Systems in a research report on Friday, July 18th. Raymond James Financial reduced their price target on shares of Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Piper Sandler reduced their target price on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Canaccord Genuity Group set a $112.00 target price on Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Barrington Research reiterated an "outperform" rating and issued a $103.00 price objective on shares of Merit Medical Systems in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.00.

Insiders Place Their Bets

In other news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the completion of the transaction, the director owned 12,809 shares in the company, valued at $1,134,365.04. This trade represents a 18.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Fred P. Lampropoulos sold 400 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $95.61, for a total transaction of $38,244.00. Following the sale, the chief executive officer directly owned 1,045,628 shares in the company, valued at approximately $99,972,493.08. This represents a 0.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,014 shares of company stock worth $1,933,680. Corporate insiders own 3.70% of the company's stock.

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.