Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 13,761.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,086 shares of the medical instruments supplier's stock after purchasing an additional 205,592 shares during the quarter. GAMMA Investing LLC owned about 0.35% of Merit Medical Systems worth $21,891,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in shares of Merit Medical Systems by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier's stock valued at $2,728,000 after buying an additional 100 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Merit Medical Systems by 4.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier's stock worth $227,000 after acquiring an additional 103 shares during the period. Arizona State Retirement System grew its position in Merit Medical Systems by 0.8% in the fourth quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier's stock valued at $1,632,000 after acquiring an additional 137 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Merit Medical Systems by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,987 shares of the medical instruments supplier's stock valued at $579,000 after purchasing an additional 190 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Merit Medical Systems by 4.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,809 shares of the medical instruments supplier's stock valued at $562,000 after purchasing an additional 231 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Merit Medical Systems from $100.00 to $108.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They issued an "overweight" rating and a $120.00 price objective for the company. 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 research note 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. Finally, Raymond James 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 note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $109.11.

Insider Activity

In related news, Director Michael R. Mcdonnell sold 1,750 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $94.51, for a total transaction of $165,392.50. Following the completion of the transaction, the director now owns 6,395 shares in the company, valued at $604,391.45. The trade was a 21.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director F. Ann Millner sold 21,250 shares of the 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 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 sold 70,015 shares of company stock valued at $6,709,970. Company insiders own 3.20% of the company's stock.

Merit Medical Systems Stock Up 0.1%

Merit Medical Systems stock traded up $0.07 during midday trading on Friday, hitting $95.28. The stock had a trading volume of 483,792 shares, compared to its average volume of 527,925. The business has a fifty day moving average price of $94.78 and a 200 day moving average price of $99.96. Merit Medical Systems, Inc. has a 12 month low of $80.02 and a 12 month high of $111.45. The stock has a market cap of $5.63 billion, a P/E ratio of 46.71, a P/E/G ratio of 2.34 and a beta of 0.66. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business had revenue of $355.35 million during the quarter, compared to the consensus estimate of $352.57 million. During the same period in the previous year, the business earned $0.77 EPS. The business's quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

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.