3,922 Shares in Merit Medical Systems, Inc. $MMSI Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association invested approximately $408,000 in Merit Medical Systems, acquiring 3,922 shares of the company.
• Merit Medical Systems reported a 13.2% year-over-year revenue increase in its most recent earnings report, with EPS of $1.01 exceeding expectations.
• Several analysts have issued ratings, with a consensus target price of $107.00, indicating a "Moderate Buy" consensus for the stock.

United Services Automobile Association purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,922 shares of the medical instruments supplier's stock, valued at approximately $408,000.

Several other hedge funds have also modified their holdings of MMSI. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the 1st quarter valued at approximately $31,000. IFP Advisors Inc increased its stake in Merit Medical Systems by 1,435.0% in the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock valued at $32,000 after purchasing an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Merit Medical Systems by 119.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Merit Medical Systems in the 1st quarter valued at approximately $41,000. Finally, Versant Capital Management Inc increased its stake in Merit Medical Systems by 1,518.5% in the 1st quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock valued at $46,000 after purchasing an additional 410 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Down 0.4%

Shares of MMSI traded down $0.33 during midday trading on Wednesday, reaching $82.37. 77,284 shares of the company were exchanged, compared to its average volume of 643,571. The stock has a 50-day moving average price of $87.44 and a 200-day moving average price of $93.08. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 41.76, a P/E/G ratio of 2.79 and a beta of 0.64. Merit Medical Systems, Inc. has a 1-year low of $81.04 and a 1-year high of $111.45. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49.

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

Insider Activity at Merit Medical Systems

In related news, Director Lynne N. Ward sold 3,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $88.56, for a total value of $265,680.00. Following the transaction, the director owned 12,809 shares in the company, valued at approximately $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Raymond James Financial dropped their price objective on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research note on Friday, July 18th. Wells Fargo & Company dropped their price objective on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Barrington Research reaffirmed an "outperform" rating and issued a $103.00 price objective on shares of Merit Medical Systems in a research note on Thursday, July 31st. Finally, Piper Sandler dropped their price target on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $107.50.

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.