Merit Medical Systems, Inc. (NASDAQ:MMSI) Stock Holdings Reduced by Raymond James & Associates

Raymond James & Associates lowered its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,739 shares of the medical instruments supplier's stock after selling 15,599 shares during the quarter. Raymond James & Associates owned 0.21% of Merit Medical Systems worth $9,399,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Cim Investment Management Inc. increased its position in shares of Merit Medical Systems by 3.5% in the first quarter. Cim Investment Management Inc. now owns 4,381 shares of the medical instruments supplier's stock valued at $324,000 after buying an additional 150 shares in the last quarter. First Horizon Advisors Inc. increased its position in Merit Medical Systems by 13.2% during the 1st quarter. First Horizon Advisors Inc. now owns 1,300 shares of the medical instruments supplier's stock worth $96,000 after purchasing an additional 152 shares in the last quarter. Belpointe Asset Management LLC increased its position in Merit Medical Systems by 53.8% during the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier's stock worth $37,000 after purchasing an additional 175 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Merit Medical Systems by 12.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,773 shares of the medical instruments supplier's stock worth $122,000 after buying an additional 194 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Merit Medical Systems by 3.3% in the 1st quarter. Franklin Resources Inc. now owns 6,993 shares of the medical instruments supplier's stock worth $517,000 after buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Up 0.6 %

Shares of NASDAQ:MMSI traded up $0.41 during mid-day trading on Friday, hitting $72.35. 253,176 shares of the company traded hands, compared to its average volume of 402,865. The firm has a market cap of $4.20 billion, a P/E ratio of 44.66, a PEG ratio of 2.01 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.95 and a current ratio of 5.45. Merit Medical Systems, Inc. has a 52-week low of $62.58 and a 52-week high of $85.62. The firm's 50 day simple moving average is $76.44 and its 200 day simple moving average is $73.25.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 EPS for the quarter, beating the consensus estimate of $0.77 by $0.04. The business had revenue of $324.52 million for the quarter, compared to the consensus estimate of $320.66 million. Merit Medical Systems had a return on equity of 14.63% and a net margin of 7.51%. The company's revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. On average, equities analysts anticipate that Merit Medical Systems, Inc. will post 3.31 EPS for the current year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 20,000 shares of Merit Medical Systems stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the sale, the director now directly owns 29,960 shares in the company, valued at approximately $2,396,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Merit Medical Systems news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the sale, the director now directly owns 19,257 shares in the company, valued at approximately $1,464,109.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director F. Ann Millner sold 20,000 shares of Merit Medical Systems stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the sale, the director now owns 29,960 shares in the company, valued at $2,396,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,637 shares of company stock worth $5,351,673. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MMSI. Canaccord Genuity Group raised their price target on Merit Medical Systems from $102.00 to $112.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. Canaccord Genuity Group raised Merit Medical Systems from a "hold" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Thursday, December 21st. Oppenheimer lifted their price objective on Merit Medical Systems from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, February 29th. Needham & Company LLC lifted their price objective on Merit Medical Systems from $81.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Finally, StockNews.com raised Merit Medical Systems from a "hold" rating to a "buy" rating in a research note on Monday, March 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.00.

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.