Royal Bank of Canada Has $90.74 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Royal Bank of Canada raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 938,210 shares of the medical instruments supplier's stock after buying an additional 5,932 shares during the period. Royal Bank of Canada owned 1.61% of Merit Medical Systems worth $90,744,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. NewSquare Capital LLC bought a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Merit Medical Systems in the fourth quarter valued at approximately $52,000. Federated Hermes Inc. boosted its holdings in shares of Merit Medical Systems by 139.1% in the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock valued at $63,000 after buying an additional 381 shares during the period. Group One Trading LLC acquired a new position in shares of Merit Medical Systems in the fourth quarter valued at approximately $77,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock worth $134,000 after purchasing an additional 977 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $98.10 on Tuesday. Merit Medical Systems, Inc. has a 12 month low of $80.02 and a 12 month high of $111.45. The stock has a market cap of $5.80 billion, a PE ratio of 48.09, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The company's fifty day moving average price is $96.74 and its 200-day moving average price is $100.60.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.11. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The firm had revenue of $355.35 million for the quarter, compared to analysts' expectations of $352.57 million. During the same quarter in the prior year, the business earned $0.77 EPS. The business's quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts expect that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barrington Research reduced their target price on shares of Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They set an "overweight" rating and a $120.00 price target on the stock. Needham & Company LLC upped their price target on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Canaccord Genuity Group dropped their price target on shares of Merit Medical Systems from $127.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Piper Sandler dropped their price target on shares of Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.67.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 21,250 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $96.47, for a total value of $2,049,987.50. Following the transaction, the director now owns 34,543 shares in the company, valued at approximately $3,332,363.21. This represents a 38.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian G. Lloyd sold 25,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the sale, the insider now owns 38,993 shares in the company, valued at approximately $3,879,803.50. This represents a 39.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,382 shares of company stock worth $13,189,508 over the last three months. 3.20% of the stock is owned by insiders.

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.

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