Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 221,205 shares of the medical instruments supplier’s stock after selling 16,007 shares during the period. Fisher Asset Management LLC owned 0.38% of Merit Medical Systems worth $16,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC purchased a new position in Merit Medical Systems during the 4th quarter worth approximately $29,000. Parallel Advisors LLC grew its position in Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares in the last quarter. Tompkins Financial Corp purchased a new position in Merit Medical Systems during the 4th quarter worth approximately $38,000. DekaBank Deutsche Girozentrale purchased a new position in Merit Medical Systems during the 3rd quarter worth approximately $67,000. Finally, Quadrant Capital Group LLC grew its position in Merit Medical Systems by 60.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,126 shares of the medical instruments supplier’s stock worth $161,000 after purchasing an additional 803 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MMSI has been the topic of several research analyst reports. Needham & Company LLC lowered their price objective on shares of Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Canaccord Genuity Group lowered their price target on shares of Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler boosted their price target on shares of Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. StockNews.com upgraded shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, CL King started coverage on shares of Merit Medical Systems in a report on Thursday, April 11th. They set a “buy” rating and a $88.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.78.

Merit Medical Systems Stock Up 0.8 %

MMSI stock opened at $81.34 on Wednesday. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65. Merit Medical Systems, Inc. has a 1 year low of $62.58 and a 1 year high of $85.18. The company has a fifty day simple moving average of $78.88 and a 200 day simple moving average of $76.90. The firm has a market cap of $4.73 billion, a PE ratio of 46.75, a PEG ratio of 2.28 and a beta of 0.91.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data 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. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The business had revenue of $323.51 million during the quarter, compared to analyst estimates of $315.57 million. During the same quarter in the previous year, the business earned $0.64 EPS. Merit Medical Systems’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.33 EPS for the current fiscal year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 7,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $81.85, for a total transaction of $613,875.00. Following the completion of the transaction, the chief operating officer now owns 14,819 shares of the company’s stock, valued at approximately $1,212,935.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.

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.