3,374 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Purchased by Choreo LLC

Choreo LLC acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 3,374 shares of the medical instruments supplier’s stock, valued at approximately $289,000.

Several other institutional investors have also added to or reduced their stakes in MMSI. Opal Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems in the second quarter worth approximately $29,000. Parallel Advisors LLC increased its stake in Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 212 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Merit Medical Systems during the first quarter worth $44,000. Headlands Technologies LLC purchased a new stake in shares of Merit Medical Systems during the first quarter valued at $50,000. Finally, EntryPoint Capital LLC grew its holdings in shares of Merit Medical Systems by 2,666.7% in the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 880 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Trading Up 0.2 %

Shares of NASDAQ MMSI opened at $98.71 on Thursday. Merit Medical Systems, Inc. has a 1-year low of $62.58 and a 1-year high of $100.32. The business has a fifty day moving average price of $91.20 and a 200 day moving average price of $82.82. The stock has a market capitalization of $5.74 billion, a P/E ratio of 56.73, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. Equities research analysts expect that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MMSI shares. Canaccord Genuity Group lifted their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. Wells Fargo & Company boosted their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Finally, Barrington Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Merit Medical Systems in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $100.55.

Insider Transactions at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the sale, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.