Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Purchased by Fmr LLC

Fmr LLC grew its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 70.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,577,246 shares of the medical instruments supplier’s stock after acquiring an additional 649,799 shares during the quarter. Fmr LLC owned about 2.71% of Merit Medical Systems worth $155,879,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MMSI. Hancock Whitney Corp raised its position in shares of Merit Medical Systems by 2.7% in the 3rd quarter. Hancock Whitney Corp now owns 8,122 shares of the medical instruments supplier’s stock worth $803,000 after buying an additional 214 shares during the period. DRW Securities LLC acquired a new stake in Merit Medical Systems during the third quarter worth about $203,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Merit Medical Systems in the 3rd quarter worth about $120,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Merit Medical Systems in the 3rd quarter valued at about $228,000. Finally, Fisher Asset Management LLC grew its holdings in shares of Merit Medical Systems by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock worth $21,910,000 after purchasing an additional 6,837 shares during the period. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Merit Medical Systems Price Performance

MMSI stock opened at $104.82 on Wednesday. The stock’s 50 day moving average is $99.26 and its two-hundred day moving average is $92.10. Merit Medical Systems, Inc. has a 52-week low of $65.46 and a 52-week high of $106.87. The company has a market capitalization of $6.11 billion, a PE ratio of 51.38, a P/E/G ratio of 2.60 and a beta of 0.84. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $339.85 million during the quarter, compared to analyst estimates of $334.60 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Bank of America lifted their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Barrington Research restated an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $109.00 target price on shares of Merit Medical Systems in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $103.36.

Insider Transactions at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. The trade was a 27.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the sale, the chief financial officer now owns 16,361 shares in the company, valued at approximately $1,603,705.22. This trade represents a 64.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

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.