Victory Capital Management Inc. Purchases 30,130 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Victory Capital Management Inc. grew its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 38.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,301 shares of the medical instruments supplier's stock after purchasing an additional 30,130 shares during the period. Victory Capital Management Inc. owned approximately 0.18% of Merit Medical Systems worth $11,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Merit Medical Systems by 134.5% in the 1st quarter. CWM LLC now owns 1,782 shares of the medical instruments supplier's stock worth $188,000 after acquiring an additional 1,022 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Merit Medical Systems by 4.8% in the 1st quarter. Xponance Inc. now owns 4,689 shares of the medical instruments supplier's stock worth $496,000 after acquiring an additional 214 shares in the last quarter. Significant Wealth Partners LLC boosted its holdings in shares of Merit Medical Systems by 17.5% in the 1st quarter. Significant Wealth Partners LLC now owns 4,727 shares of the medical instruments supplier's stock worth $500,000 after acquiring an additional 705 shares in the last quarter. MeadowBrook Investment Advisors LLC boosted its holdings in shares of Merit Medical Systems by 5.9% in the 1st quarter. MeadowBrook Investment Advisors LLC now owns 3,065 shares of the medical instruments supplier's stock worth $324,000 after acquiring an additional 170 shares in the last quarter. Finally, EULAV Asset Management boosted its holdings in shares of Merit Medical Systems by 1.7% in the 1st quarter. EULAV Asset Management now owns 117,000 shares of the medical instruments supplier's stock worth $12,368,000 after acquiring an additional 2,000 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barrington Research reduced their target price on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Piper Sandler reissued an "overweight" rating and issued a $110.00 target price (up from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd. Canaccord Genuity Group set a $112.00 target price on Merit Medical Systems and gave the stock a "buy" rating in a report on Wednesday, May 21st. Needham & Company LLC reissued a "buy" rating and issued a $108.00 target price on shares of Merit Medical Systems in a report on Friday, July 18th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Merit Medical Systems in a report on Wednesday, July 16th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $109.11.

Insider Buying and Selling

In other news, CFO Raul Jr. Parra sold 15,181 shares of the stock in a transaction 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 of the company's stock, valued at $2,268,843.75. This represents a 38.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Floyd sold 3,515 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $94.16, for a total value of $330,972.40. Following the completion of the transaction, the director directly owned 4,880 shares in the company, valued at approximately $459,500.80. This trade represents a 41.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,596 shares of company stock worth $8,171,433 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Merit Medical Systems Trading Up 0.6%

NASDAQ:MMSI traded up $0.47 during trading hours on Friday, hitting $84.69. 537,957 shares of the stock were exchanged, compared to its average volume of 719,060. The company's 50 day moving average is $92.67 and its two-hundred day moving average is $97.65. The company has a quick ratio of 3.26, a current ratio of 4.87 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.01 billion, a P/E ratio of 41.51, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65. Merit Medical Systems, Inc. has a twelve month low of $82.62 and a twelve month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted 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. The company had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. Merit Medical Systems had a return on equity of 15.52% and a net margin of 8.81%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS. On average, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Merit Medical Systems 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.