Deutsche Bank AG Trims Holdings in Merit Medical Systems, Inc. $MMSI

Key Points

• Deutsche Bank AG reduced its holdings in Merit Medical Systems (NASDAQ:MMSI) by 7.0% in Q1, now owning approximately 0.13% of the company, worth about $8.38 million.
• Several institutional investors have adjusted their positions in Merit Medical, with Westwood Holdings Group increasing its share by 12.0% and new investments from Harbour Investments and Bayforest Capital.
• The stock currently has a consensus price target of $107.00 with analysts rating it as a "Moderate Buy," following recent price adjustments from major firms.

Deutsche Bank AG trimmed its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. US Bancorp DE grew its holdings 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 worth $416,000 after acquiring an additional 145 shares during the period. Westover Capital Advisors LLC grew its holdings in Merit Medical Systems by 2.6% in the first quarter. Westover Capital Advisors LLC now owns 6,728 shares of the medical instruments supplier's stock valued at $711,000 after purchasing an additional 168 shares during the period. MeadowBrook Investment Advisors LLC grew its holdings in Merit Medical Systems by 5.9% in the first quarter. MeadowBrook Investment Advisors LLC now owns 3,065 shares of the medical instruments supplier's stock valued at $324,000 after purchasing an additional 170 shares during the period. Summit Investment Advisors Inc. grew its holdings in Merit Medical Systems by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,987 shares of the medical instruments supplier's stock valued at $579,000 after purchasing an additional 190 shares during the period. Finally, Blue Trust Inc. grew its holdings in Merit Medical Systems by 15.9% in the first quarter. Blue Trust Inc. now owns 1,529 shares of the medical instruments supplier's stock valued at $162,000 after purchasing an additional 210 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Merit Medical Systems

In related news, Director David Floyd sold 3,515 shares of Merit Medical Systems stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $94.16, for a total transaction of $330,972.40. Following the transaction, the director owned 4,880 shares in the company, valued at approximately $459,500.80. This trade represents a 41.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Raul Jr. Parra sold 15,181 shares of Merit Medical Systems stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $93.75, for a total value of $1,423,218.75. Following the transaction, the chief financial officer owned 24,201 shares in the company, valued at approximately $2,268,843.75. The trade was a 38.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,779 shares of company stock valued at $6,327,983. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Canaccord Genuity Group set a $112.00 price objective on Merit Medical Systems and gave the company a "buy" rating in a report on Wednesday, May 21st. Needham & Company LLC reissued a "buy" rating and issued a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, July 18th. Raymond James Financial dropped their price objective on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Wells Fargo & Company dropped their price objective on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, Piper Sandler dropped their price objective on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $107.00.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI traded up $0.21 during trading on Wednesday, reaching $87.36. The stock had a trading volume of 672,916 shares, compared to its average volume of 595,657. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. The business has a fifty day moving average price of $88.94 and a 200-day moving average price of $95.40. The stock has a market cap of $5.17 billion, a PE ratio of 44.35, a PEG ratio of 2.85 and a beta of 0.66. Merit Medical Systems, Inc. has a 1-year low of $81.04 and a 1-year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.16. The firm had revenue of $382.46 million for the quarter, compared to analyst estimates of $372.47 million. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The business's revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. On average, equities analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

About Merit Medical Systems

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.