Vanguard Group Inc. Sells 77,001 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Vanguard Group Inc. lessened its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,571,658 shares of the medical instruments supplier's stock after selling 77,001 shares during the period. Vanguard Group Inc. owned 11.12% of Merit Medical Systems worth $694,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. increased its position in Merit Medical Systems by 2.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,633,246 shares of the medical instruments supplier's stock worth $157,968,000 after buying an additional 36,489 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of 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 during the period. Northern Trust Corp increased its position in 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 buying an additional 85,483 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Merit Medical Systems by 3.6% in the 4th quarter. Nuveen Asset Management LLC now owns 742,735 shares of the medical instruments supplier's stock valued at $71,837,000 after acquiring an additional 25,816 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in shares of Merit Medical Systems by 12.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 687,501 shares of the medical instruments supplier's stock worth $72,676,000 after purchasing an additional 73,866 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company's stock.

Insider Activity

In other news, Director Lynne N. Ward sold 2,433 shares of the firm's stock in a transaction on 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 sale, the director owned 12,809 shares of the company's stock, valued at $1,087,356.01. This trade represents a 15.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Raul Jr. Parra sold 15,181 shares of Merit Medical Systems 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 transaction, the chief financial officer owned 24,201 shares of the company's stock, valued at approximately $2,268,843.75. This represents a 38.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,779 shares of company stock worth $6,327,983 in the last three months. Corporate insiders own 3.20% of the company's stock.

Merit Medical Systems Stock Performance

Shares of MMSI stock traded up $0.29 on Friday, hitting $85.51. 557,515 shares of the stock were exchanged, compared to its average volume of 641,514. Merit Medical Systems, Inc. has a one year low of $81.04 and a one year high of $111.45. The firm's 50 day moving average is $89.41 and its two-hundred day moving average is $95.78. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $5.06 billion, a PE ratio of 43.41, a P/E/G ratio of 2.80 and a beta of 0.66.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MMSI shares. Wells Fargo & Company decreased their target price 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 price objective on shares of Merit Medical Systems and gave the company a "buy" rating in a report on Wednesday, May 21st. Piper Sandler lowered their price objective 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. Raymond James Financial lowered their target price on shares of Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Finally, Barrington Research restated 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Merit Medical Systems currently has an average rating of "Moderate Buy" and a consensus price target of $107.00.

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.