Merit Medical Systems, Inc. (NASDAQ:MMSI) Stock Position Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,209 shares of the medical instruments supplier's stock after purchasing an additional 10,000 shares during the period. Handelsbanken Fonder AB owned 0.38% of Merit Medical Systems worth $24,018,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. NewSquare Capital LLC acquired a new position in shares of Merit Medical Systems during the fourth quarter worth approximately $32,000. Versant Capital Management Inc boosted its holdings in shares of Merit Medical Systems by 1,518.5% during the 1st quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock worth $46,000 after buying an additional 410 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in Merit Medical Systems during the fourth quarter worth approximately $52,000. Federated Hermes Inc. boosted its holdings in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock valued at $63,000 after purchasing an additional 381 shares in the last quarter. Finally, Group One Trading LLC acquired a new stake in Merit Medical Systems in the fourth quarter valued at $77,000. 99.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MMSI has been the topic of several research reports. Piper Sandler restated an "overweight" rating and set a $110.00 price objective (up previously from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd. Barrington Research reduced their price target on shares of Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Raymond James lowered their price target on Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Canaccord Genuity Group set a $112.00 target price on Merit Medical Systems and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Robert W. Baird cut their price target 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. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $109.11.

Merit Medical Systems Trading Down 1.5%

Shares of Merit Medical Systems stock traded down $1.39 on Thursday, hitting $93.01. 80,928 shares of the company traded hands, compared to its average volume of 528,057. Merit Medical Systems, Inc. has a 52 week low of $80.02 and a 52 week high of $111.45. The company has a market cap of $5.50 billion, a PE ratio of 45.59, a PEG ratio of 2.34 and a beta of 0.66. The stock's 50 day moving average price is $94.40 and its 200-day moving average price is $99.75. 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, topping the consensus estimate of $0.75 by $0.11. The business had revenue of $355.35 million during the quarter, compared to the consensus estimate of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other news, Director David Floyd sold 3,515 shares of the firm'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 transaction, the director now directly owns 4,880 shares in the company, valued at $459,500.80. This trade represents a 41.87% 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 firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $96.47, for a total value of $2,049,987.50. Following the sale, the director now owns 34,543 shares in the company, valued at approximately $3,332,363.21. The trade was a 38.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,015 shares of company stock worth $6,709,970 over the last three months. Insiders own 3.20% 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.