Channing Capital Management LLC Has $55.31 Million Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Channing Capital Management LLC lifted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 728,188 shares of the medical instruments supplier's stock after buying an additional 20,031 shares during the quarter. Channing Capital Management LLC owned about 1.26% of Merit Medical Systems worth $55,313,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. William Blair Investment Management LLC boosted its position in Merit Medical Systems by 15.4% during the third quarter. William Blair Investment Management LLC now owns 3,895,695 shares of the medical instruments supplier's stock valued at $268,881,000 after acquiring an additional 520,423 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in Merit Medical Systems by 0.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,151,938 shares of the medical instruments supplier's stock worth $163,461,000 after purchasing an additional 11,995 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in Merit Medical Systems by 1.2% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,388,905 shares of the medical instruments supplier's stock worth $95,862,000 after purchasing an additional 16,488 shares during the period. Loomis Sayles & Co. L P increased its holdings in Merit Medical Systems by 25.9% in the third quarter. Loomis Sayles & Co. L P now owns 1,031,173 shares of the medical instruments supplier's stock worth $71,172,000 after purchasing an additional 212,256 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Merit Medical Systems by 1.7% in the third quarter. Northern Trust Corp now owns 719,716 shares of the medical instruments supplier's stock valued at $49,675,000 after buying an additional 11,967 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. CL King began coverage on shares of Merit Medical Systems in a research report on Thursday, April 11th. They set a "buy" rating and a $88.00 price objective for the company. Barrington Research lifted their price target on shares of Merit Medical Systems from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday. Bank of America began coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They set a "neutral" rating and a $87.00 price objective on the stock. Piper Sandler boosted their target price on Merit Medical Systems from $95.00 to $97.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Oppenheimer upped their price target on Merit Medical Systems from $82.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.78.

Merit Medical Systems Stock Up 2.5 %

MMSI stock traded up $1.95 during mid-day trading on Friday, reaching $78.97. 263,069 shares of the company traded hands, compared to its average volume of 359,416. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 45.39, a P/E/G ratio of 2.20 and a beta of 0.91. Merit Medical Systems, Inc. has a fifty-two week low of $62.58 and a fifty-two week high of $85.62. The firm's 50 day moving average price is $74.19 and its 200 day moving average price is $74.21. The company has a quick ratio of 3.95, a current ratio of 6.03 and a debt-to-equity ratio of 0.65.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. The company had revenue of $323.51 million for the quarter, compared to analysts' expectations of $315.57 million. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. Merit Medical Systems's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. As a group, equities research analysts predict that Merit Medical Systems, Inc. will post 3.33 EPS for the current fiscal year.

Insider Transactions at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 6,480 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now directly owns 12,007 shares of the company's stock, valued at $887,917.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Raul Jr. Parra sold 6,480 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 12,007 shares of the company's stock, valued at $887,917.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Wright sold 25,000 shares of Merit Medical Systems stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $75.68, for a total value of $1,892,000.00. Following the sale, the insider now owns 42,223 shares in the company, valued at $3,195,436.64. The disclosure for this sale can be found here. Insiders sold a total of 49,637 shares of company stock worth $3,751,673 in the last quarter. 3.70% 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.

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