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Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by LPL Financial LLC

Merit Medical Systems logo with Medical background

Key Points

  • LPL Financial LLC increased its holdings in Merit Medical Systems by 14.9%, acquiring an additional 8,151 shares, and now owns approximately 62,743 shares valued at $6.63 million.
  • Insider trading activity included Director F. Ann Millner selling 21,250 shares for about $2.05 million, while CFO Raul Jr. Parra sold 15,181 shares for approximately $1.42 million, indicating a significant decrease in their ownership positions.
  • Merit Medical Systems reported a quarterly EPS of $1.01, beating analysts' expectations, and projected a full-year EPS of 3.37, reflecting a positive growth outlook.
  • Want stock alerts on Merit Medical Systems? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

LPL Financial LLC boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,743 shares of the medical instruments supplier's stock after purchasing an additional 8,151 shares during the quarter. LPL Financial LLC owned about 0.11% of Merit Medical Systems worth $6,633,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Merit Medical Systems in the 1st quarter valued at $31,000. IFP Advisors Inc grew its holdings in shares of Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock worth $32,000 after purchasing an additional 287 shares during the period. Versant Capital Management Inc grew 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 purchasing an additional 410 shares during the period. Federated Hermes Inc. grew its holdings in shares of Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after purchasing an additional 381 shares during the period. Finally, Group One Trading LLC purchased a new position in shares of Merit Medical Systems during the 4th quarter worth $77,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Trading Up 1.6%

Merit Medical Systems stock traded up $1.39 during midday trading on Wednesday, reaching $86.15. 466,505 shares of the stock traded hands, compared to its average volume of 815,665. The company has a 50-day simple moving average of $89.80 and a two-hundred day simple moving average of $96.17. Merit Medical Systems, Inc. has a 12-month low of $81.04 and a 12-month high of $111.45. The firm has a market cap of $5.10 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 2.77 and a beta of 0.66. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Needham & Company LLC reiterated a "buy" rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Friday, July 18th. Barrington Research reiterated an "outperform" rating and set a $103.00 price target on shares of Merit Medical Systems in a report on Thursday, July 31st. Piper Sandler lowered their price target 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. Finally, Raymond James Financial lowered their price target on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.00.

Check Out Our Latest Research Report on Merit Medical Systems

Insider Buying and Selling

In other Merit Medical Systems news, Director David Floyd sold 3,515 shares of the 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 sale, the director owned 4,880 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. Also, CFO Raul Jr. Parra sold 15,181 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the sale, the chief financial officer directly owned 24,201 shares in the company, valued at $2,268,843.75. This represents a 38.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,029 shares of company stock worth $8,377,970 over the last ninety days. Company insiders own 3.20% of the company's stock.

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.

See Also

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

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