AlphaMark Advisors LLC Makes New $304,000 Investment in Merit Medical Systems, Inc. (NASDAQ:MMSI)

AlphaMark Advisors LLC bought a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 1st quarter, Holdings Channel.com reports. The fund bought 4,008 shares of the medical instruments supplier’s stock, valued at approximately $304,000.

Several other large investors also recently added to or reduced their stakes in MMSI. M&T Bank Corp boosted its holdings in shares of Merit Medical Systems by 65.0% during the 4th quarter. M&T Bank Corp now owns 29,223 shares of the medical instruments supplier’s stock worth $2,219,000 after buying an additional 11,512 shares during the period. Trexquant Investment LP bought a new stake in shares of Merit Medical Systems during the 4th quarter worth $2,427,000. Capstone Investment Advisors LLC bought a new stake in shares of Merit Medical Systems during the 4th quarter worth $3,424,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Merit Medical Systems by 69.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 103,099 shares of the medical instruments supplier’s stock worth $7,116,000 after buying an additional 42,191 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Merit Medical Systems by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after buying an additional 41,065 shares during the period. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Trading Down 0.4 %

Shares of MMSI stock opened at $85.64 on Tuesday. Merit Medical Systems, Inc. has a 52-week low of $62.58 and a 52-week high of $86.44. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 49.22, a P/E/G ratio of 2.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. The firm has a fifty day moving average of $80.85 and a 200-day moving average of $77.75.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $323.51 million during the quarter, compared to analysts’ expectations of $315.57 million. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Merit Medical Systems, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $81.85, for a total value of $613,875.00. Following the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MMSI. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a report on Friday. Barrington Research upped their target price 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, May 1st. Needham & Company LLC upped their target price on shares of Merit Medical Systems from $85.00 to $93.00 and gave the company a “buy” rating in a research note on Monday. Finally, Piper Sandler upped their target price on shares of Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Merit Medical Systems has an average rating of “Buy” and a consensus price target of $93.90.

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.