Charles Schwab Investment Management Inc. Sells 10,906 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Charles Schwab Investment Management Inc. decreased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 1.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 737,655 shares of the medical instruments supplier's stock after selling 10,906 shares during the period. Charles Schwab Investment Management Inc. owned 1.25% of Merit Medical Systems worth $77,978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Tidal Investments LLC increased its holdings in shares of Merit Medical Systems by 3,197.9% in the 4th quarter. Tidal Investments LLC now owns 342,912 shares of the medical instruments supplier's stock worth $33,166,000 after purchasing an additional 332,514 shares in the last quarter. Wellington Management Group LLP bought a new stake in Merit Medical Systems during the 4th quarter valued at $21,824,000. GAMMA Investing LLC raised its stake in Merit Medical Systems by 13,761.2% in the first quarter. GAMMA Investing LLC now owns 207,086 shares of the medical instruments supplier's stock valued at $21,891,000 after buying an additional 205,592 shares during the last quarter. Iron Triangle Partners LP grew its stake in Merit Medical Systems by 60.9% during the 4th quarter. Iron Triangle Partners LP now owns 407,022 shares of the medical instruments supplier's stock valued at $39,367,000 after purchasing an additional 154,022 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Merit Medical Systems by 12.8% during the 4th quarter. Northern Trust Corp now owns 750,936 shares of the medical instruments supplier's stock valued at $72,631,000 after acquiring an additional 85,483 shares during the period. Hedge funds and other institutional investors own 99.66% of the company's stock.

Insider Buying and Selling

In other Merit Medical Systems news, Director Lynne N. Ward sold 2,433 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $84.89, for a total value of $206,537.37. Following the completion of the transaction, the director owned 12,809 shares of the company's stock, valued at approximately $1,087,356.01. The trade was a 15.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Floyd sold 3,515 shares of the business'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 completion of the transaction, the director directly owned 4,880 shares of the company's stock, valued at approximately $459,500.80. This trade represents a 41.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,779 shares of company stock worth $6,327,983 over the last quarter. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MMSI shares. Piper Sandler decreased their price target on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company reduced their price target on shares of Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Canaccord Genuity Group set a $112.00 target price on shares of Merit Medical Systems and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Robert W. Baird cut their price objective 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, July 18th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Merit Medical Systems presently has an average rating of "Moderate Buy" and an average price target of $107.00.

Merit Medical Systems Price Performance

MMSI traded up $0.29 on Friday, reaching $85.51. The company had a trading volume of 557,515 shares, compared to its average volume of 641,514. The business has a 50 day simple moving average of $89.41 and a 200 day simple moving average of $95.87. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 43.41, a P/E/G ratio of 2.79 and a beta of 0.66. 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, Inc. has a 52-week low of $81.04 and a 52-week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly 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. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The business had revenue of $382.46 million for the quarter, compared to analysts' expectations of $372.47 million. During the same period last year, the business earned $0.92 earnings per share. The business's quarterly revenue was up 13.2% on a year-over-year basis. As a group, sell-side analysts anticipate 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.