UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 2,805 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,816 shares of the medical instruments supplier’s stock after selling 2,805 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Merit Medical Systems worth $13,917,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in shares of Merit Medical Systems by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after acquiring an additional 118 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Merit Medical Systems by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock valued at $311,000 after acquiring an additional 170 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Merit Medical Systems by 0.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock valued at $2,830,000 after acquiring an additional 170 shares during the last quarter. Hancock Whitney Corp lifted its holdings 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 valued at $803,000 after acquiring an additional 214 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Merit Medical Systems by 5.9% in the 3rd quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier’s stock valued at $394,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Insiders Place Their Bets

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

Merit Medical Systems Stock Down 0.3 %

Shares of Merit Medical Systems stock opened at $104.40 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. Merit Medical Systems, Inc. has a 1 year low of $67.81 and a 1 year high of $106.87. The firm’s 50-day moving average is $99.69 and its two-hundred day moving average is $92.50. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 51.18, a PEG ratio of 2.62 and a beta of 0.84.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. During the same period in the prior year, the business earned $0.75 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MMSI has been the topic of several analyst reports. Robert W. Baird upped their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. 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 report on Monday, September 9th. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Barrington Research reiterated an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $109.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and an average target price of $103.36.

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.