Oberweis Asset Management Inc. Raises Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Oberweis Asset Management Inc. increased its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,760 shares of the medical instruments supplier's stock after acquiring an additional 6,620 shares during the period. Merit Medical Systems makes up about 1.0% of Oberweis Asset Management Inc.'s holdings, making the stock its 27th largest holding. Oberweis Asset Management Inc. owned about 0.36% of Merit Medical Systems worth $20,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its position in Merit Medical Systems by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier's stock valued at $2,728,000 after purchasing an additional 100 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in Merit Medical Systems by 4.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier's stock worth $227,000 after acquiring an additional 103 shares during the last quarter. Tidal Investments LLC grew its holdings in Merit Medical Systems by 1.0% during the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier's stock worth $1,028,000 after acquiring an additional 104 shares in the last quarter. Arizona State Retirement System grew its holdings in Merit Medical Systems by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier's stock worth $1,632,000 after acquiring an additional 137 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its position in shares of Merit Medical Systems by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,987 shares of the medical instruments supplier's stock valued at $579,000 after purchasing an additional 190 shares during the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems Price Performance

MMSI stock traded up $0.34 on Tuesday, reaching $95.78. 150,146 shares of the company's stock were exchanged, compared to its average volume of 498,261. The stock has a fifty day moving average of $98.38 and a 200-day moving average of $100.61. The firm has a market cap of $5.66 billion, a PE ratio of 46.93, a P/E/G ratio of 2.34 and a beta of 0.85. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a twelve month low of $73.67 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, topping analysts' consensus estimates of $0.75 by $0.11. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $355.35 million for the quarter, compared to analysts' expectations of $352.57 million. During the same period in the prior year, the company posted $0.77 EPS. The business's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MMSI. Canaccord Genuity Group decreased their price objective on shares of Merit Medical Systems from $127.00 to $108.00 and set a "buy" rating for the company in a research report on Friday. Raymond James lowered their price objective on Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a research report on Friday. Barrington Research cut their target price on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a research report on Friday. JPMorgan Chase & Co. started coverage on Merit Medical Systems in a report on Friday, March 28th. They issued an "overweight" rating and a $120.00 price target for the company. Finally, Wells Fargo & Company set a $106.00 price objective on shares of Merit Medical Systems and gave the stock an "overweight" rating in a report on Friday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.78.

Insider Buying and Selling at Merit Medical Systems

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of Merit Medical Systems stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the completion of the transaction, the chief executive officer now directly owns 1,086,028 shares in the company, valued at $112,794,868.08. The trade was a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian G. Lloyd sold 30,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total value of $3,087,000.00. Following the sale, the insider now owns 38,945 shares in the company, valued at approximately $4,007,440.50. This trade represents a 43.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,132 shares of company stock valued at $11,139,521. Insiders own 3.70% of the company's stock.

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.