Intech Investment Management LLC Takes $719,000 Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Intech Investment Management LLC bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, Holdings Channel.com reports. The fund bought 8,370 shares of the medical instruments supplier’s stock, valued at approximately $719,000.

Several other hedge funds have also recently added to or reduced their stakes in MMSI. Opal Wealth Advisors LLC purchased a new stake in shares of Merit Medical Systems in the 2nd quarter valued at approximately $29,000. Parallel Advisors LLC increased its holdings 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 valued at $30,000 after buying an additional 212 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems in the first quarter valued at $44,000. Headlands Technologies LLC purchased a new stake in Merit Medical Systems during the 1st quarter worth about $50,000. Finally, EntryPoint Capital LLC boosted its position in shares of Merit Medical Systems by 2,666.7% during the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after acquiring an additional 880 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Activity

In other news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the completion of the sale, the director now directly owns 32,391 shares in the company, valued at $2,753,235. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

MMSI has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research note on Monday, September 16th. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, September 18th. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Baird R W upgraded shares of Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Robert W. Baird started coverage on Merit Medical Systems in a research report on Friday, June 28th. They set an “outperform” rating and a $96.00 target price on the stock. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $98.18 on Thursday. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 56.43, a price-to-earnings-growth ratio of 2.52 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. The business’s 50 day simple moving average is $92.49 and its 200-day simple moving average is $83.66. Merit Medical Systems, Inc. has a 12 month low of $62.58 and a 12 month high of $101.60.

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

Merit Medical Systems Company 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.