Mount Yale Investment Advisors LLC Takes $309,000 Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Mount Yale Investment Advisors LLC bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,130 shares of the medical instruments supplier’s stock, valued at approximately $309,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co grew its position in shares of Merit Medical Systems by 5.4% in the first quarter. Diversified Trust Co now owns 11,293 shares of the medical instruments supplier’s stock valued at $855,000 after purchasing an additional 577 shares during the period. Congress Wealth Management LLC DE acquired a new stake in Merit Medical Systems in the 1st quarter worth about $5,502,000. AlphaMark Advisors LLC acquired a new position in shares of Merit Medical Systems during the first quarter valued at approximately $304,000. Norden Group LLC purchased a new position in shares of Merit Medical Systems in the first quarter valued at approximately $293,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Merit Medical Systems in the first quarter worth approximately $336,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MMSI shares. Piper Sandler restated an “overweight” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Canaccord Genuity Group boosted their price target on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Bank of America upped their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Barrington Research reissued an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research note on Friday, October 18th. Finally, StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.82.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $96.00 on Monday. The stock has a fifty day simple moving average of $96.11 and a 200-day simple moving average of $87.15. 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 stock has a market cap of $5.59 billion, a PE ratio of 48.00, a P/E/G ratio of 2.41 and a beta of 0.87. Merit Medical Systems, Inc. has a twelve month low of $63.13 and a twelve month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last announced 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 during 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 analysts anticipate that Merit Medical Systems, Inc. will post 3.31 earnings per share 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.