Deutsche Bank AG trimmed its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,266 shares of the medical instruments supplier's stock after selling 5,961 shares during the period. Deutsche Bank AG owned about 0.13% of Merit Medical Systems worth $8,379,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Westwood Holdings Group Inc. lifted its position in Merit Medical Systems by 12.0% during the first quarter. Westwood Holdings Group Inc. now owns 687,501 shares of the medical instruments supplier's stock valued at $72,676,000 after buying an additional 73,866 shares in the last quarter. US Bancorp DE lifted its position in Merit Medical Systems by 3.8% during the first quarter. US Bancorp DE now owns 3,936 shares of the medical instruments supplier's stock valued at $416,000 after buying an additional 145 shares in the last quarter. Harbour Investments Inc. acquired a new position in Merit Medical Systems during the first quarter valued at approximately $66,000. Natixis Advisors LLC lifted its position in shares of Merit Medical Systems by 3.3% during the first quarter. Natixis Advisors LLC now owns 74,807 shares of the medical instruments supplier's stock worth $7,908,000 after purchasing an additional 2,372 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new position in shares of Merit Medical Systems during the first quarter worth $41,000. 99.66% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. 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 report on Wednesday, May 21st. Piper Sandler reduced their target price on shares of Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company reduced their target price on shares of Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Robert W. Baird reduced their target price on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Barrington Research reissued an "outperform" rating and set a $103.00 target price on shares of Merit Medical Systems in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $107.00.
Read Our Latest Report on Merit Medical Systems
Merit Medical Systems Trading Up 0.3%
Shares of NASDAQ MMSI opened at $85.51 on Friday. The stock's 50 day moving average price is $89.41 and its two-hundred day moving average price is $95.87. Merit Medical Systems, Inc. has a 52-week low of $81.04 and a 52-week high of $111.45. The stock has a market capitalization of $5.06 billion, a P/E ratio of 43.41, a PEG ratio of 2.79 and a beta of 0.66. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49.
Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%. The firm had revenue of $382.46 million for the quarter, compared to analysts' expectations of $372.47 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Merit Medical Systems's revenue for the quarter was up 13.2% compared to the same quarter last year. On average, analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Lynne N. Ward sold 2,433 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $84.89, for a total transaction of $206,537.37. Following the completion of the transaction, the director owned 12,809 shares in the company, valued at approximately $1,087,356.01. This represents a 15.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Raul Jr. Parra sold 15,181 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $93.75, for a total transaction of $1,423,218.75. Following the transaction, the chief financial officer owned 24,201 shares of the company's stock, 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 66,779 shares of company stock valued at $6,327,983 over the last quarter. 3.20% of the stock is owned by company insiders.
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.
Further Reading
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