Tidal Investments LLC Boosts Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Tidal Investments LLC grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 3,197.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,912 shares of the medical instruments supplier's stock after purchasing an additional 332,514 shares during the quarter. Tidal Investments LLC owned approximately 0.59% of Merit Medical Systems worth $33,166,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MMSI. Norges Bank purchased a new position in Merit Medical Systems in the 4th quarter valued at about $66,638,000. Raymond James Financial Inc. purchased a new position in shares of Merit Medical Systems during the fourth quarter valued at approximately $48,926,000. FMR LLC lifted its stake in shares of Merit Medical Systems by 31.6% during the fourth quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier's stock valued at $200,833,000 after buying an additional 499,193 shares during the period. Groupama Asset Managment acquired a new stake in Merit Medical Systems during the fourth quarter worth approximately $38,688,000. Finally, Bryn Mawr Capital Management LLC purchased a new stake in Merit Medical Systems in the 4th quarter worth approximately $36,057,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director Stephen C. Evans sold 5,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the transaction, the director now owns 4,657 shares in the company, valued at $490,428.67. The trade was a 51.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Raul Jr. Parra sold 5,361 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $103.58, for a total value of $555,292.38. Following the completion of the sale, the chief financial officer now owns 24,201 shares of the company's stock, valued at approximately $2,506,739.58. This trade represents a 18.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,382 shares of company stock worth $13,189,508. 3.20% of the stock is currently owned by corporate insiders.

Merit Medical Systems Trading Up 0.1%

Shares of NASDAQ MMSI traded up $0.12 during midday trading on Friday, hitting $95.23. The stock had a trading volume of 71,679 shares, compared to its average volume of 517,802. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 1-year low of $80.02 and a 1-year high of $111.45. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 46.67, a PEG ratio of 2.34 and a beta of 0.70. The company has a fifty day moving average price of $96.61 and a 200 day moving average price of $100.53.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the previous year, the company posted $0.77 earnings per share. Merit Medical Systems's revenue was up 9.8% compared to the same quarter last year. On average, analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barrington Research reduced their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company reiterated an "overweight" rating and issued a $108.00 target price (up from $106.00) on shares of Merit Medical Systems in a research note on Wednesday. Canaccord Genuity Group raised their price target on Merit Medical Systems from $108.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday. Raymond James lowered their price target on Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Piper Sandler increased their price objective on shares of Merit Medical Systems from $106.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $109.11.

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.