MML Investors Services LLC Has $2.03 Million Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

MML Investors Services LLC grew its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,021 shares of the medical instruments supplier's stock after purchasing an additional 3,331 shares during the quarter. MML Investors Services LLC's holdings in Merit Medical Systems were worth $2,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC acquired a new position in Merit Medical Systems during the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter worth about $52,000. Federated Hermes Inc. raised its holdings in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock valued at $63,000 after purchasing an additional 381 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Merit Medical Systems by 237.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock valued at $134,000 after purchasing an additional 977 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Merit Medical Systems by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier's stock valued at $144,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 99.66% of the company's stock.

Wall Street Analyst Weigh In

MMSI has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a report on Friday, March 28th. They set an "overweight" rating and a $120.00 price target for the company. Barrington Research reduced their price objective on shares of Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company set a $106.00 target price on shares of Merit Medical Systems and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Robert W. Baird reduced their target price on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Merit Medical Systems currently has an average rating of "Moderate Buy" and an average target price of $107.78.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI traded up $2.46 on Friday, reaching $95.66. 656,529 shares of the company's stock were exchanged, compared to its average volume of 501,697. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a twelve month low of $76.52 and a twelve month high of $111.45. The company has a fifty day moving average of $97.78 and a 200-day moving average of $100.51. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 46.89, a PEG ratio of 2.34 and a beta of 0.70.

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

Insider Activity

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 12,451 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the completion of the transaction, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian G. Lloyd sold 25,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were 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 directly 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. In the last ninety days, insiders sold 109,132 shares of company stock worth $11,139,521. 3.20% of the stock is currently owned by corporate 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.