Silver Oak Securities Incorporated Makes New $405,000 Investment in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Silver Oak Securities Incorporated purchased a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter, HoldingsChannel.com reports. The fund purchased 4,142 shares of the medical instruments supplier’s stock, valued at approximately $405,000.

Several other institutional investors have also modified their holdings of MMSI. Opal Wealth Advisors LLC acquired a new position in Merit Medical Systems during the second quarter worth $29,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Merit Medical Systems in the first quarter valued at $44,000. Headlands Technologies LLC acquired a new position in shares of Merit Medical Systems during the 1st quarter worth $50,000. USA Financial Formulas purchased a new stake in shares of Merit Medical Systems in the 3rd quarter worth about $59,000. Finally, EntryPoint Capital LLC grew its stake in Merit Medical Systems by 2,666.7% in the 1st quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock valued at $69,000 after acquiring an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MMSI shares. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC reiterated a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a report on Monday, September 16th. Wells Fargo & Company raised their price target on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Finally, Canaccord Genuity Group upped their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $101.82.

Merit Medical Systems Stock Up 0.1 %

Shares of NASDAQ:MMSI opened at $96.00 on Friday. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 48.00, a PEG ratio of 2.41 and a beta of 0.87. The stock’s 50-day moving average price is $96.11 and its two-hundred day moving average price is $87.15. Merit Medical Systems, Inc. has a 12-month low of $63.13 and a 12-month high of $101.60.

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

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.