iSAM Funds UK Ltd Purchases Shares of 4,379 Merit Medical Systems, Inc. (NASDAQ:MMSI)

iSAM Funds UK Ltd purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,379 shares of the medical instruments supplier's stock, valued at approximately $424,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. increased its stake in Merit Medical Systems by 45.7% during the 4th quarter. Virtus Investment Advisers Inc. now owns 11,192 shares of the medical instruments supplier's stock worth $1,082,000 after buying an additional 3,513 shares during the period. Tidal Investments LLC grew its holdings in Merit Medical Systems by 3,197.9% during the 4th quarter. Tidal Investments LLC now owns 342,912 shares of the medical instruments supplier's stock worth $33,166,000 after acquiring an additional 332,514 shares in the last quarter. Royal Bank of Canada grew its holdings in Merit Medical Systems by 0.6% during the 4th quarter. Royal Bank of Canada now owns 938,210 shares of the medical instruments supplier's stock worth $90,744,000 after acquiring an additional 5,932 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Merit Medical Systems during the 4th quarter worth $213,000. Finally, ProShare Advisors LLC grew its holdings in Merit Medical Systems by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 17,267 shares of the medical instruments supplier's stock worth $1,670,000 after acquiring an additional 5,308 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Insiders Place Their Bets

In other Merit Medical Systems news, Director F. Ann Millner sold 21,250 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $96.47, for a total transaction of $2,049,987.50. Following the sale, the director now directly owns 34,543 shares in the company, valued at approximately $3,332,363.21. The trade was a 38.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen C. Evans sold 5,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the sale, the director now owns 4,657 shares in the company, valued at $490,428.67. This trade represents a 51.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,382 shares of company stock worth $13,189,508. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MMSI. Canaccord Genuity Group raised their price objective on shares of Merit Medical Systems from $108.00 to $112.00 and gave the stock a "buy" rating in a report on Wednesday. Piper Sandler raised their price objective on shares of Merit Medical Systems from $106.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday. Robert W. Baird decreased their price objective on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Barrington Research decreased their price objective on shares of Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They set an "overweight" rating and a $120.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $109.11.

Merit Medical Systems Stock Performance

Merit Medical Systems stock traded up $0.27 during midday trading on Friday, reaching $95.38. 401,921 shares of the stock traded hands, compared to its average volume of 520,920. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average price of $96.52 and a two-hundred day moving average price of $100.49. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 46.76, a PEG ratio of 2.34 and a beta of 0.70. Merit Medical Systems, Inc. has a fifty-two week low of $80.02 and a fifty-two week high of $111.45.

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

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.