Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp lifted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 20.7% in the third quarter, Holdings Channel reports. The firm owned 28,050 shares of the medical instruments supplier’s stock after acquiring an additional 4,806 shares during the period. Stifel Financial Corp’s holdings in Merit Medical Systems were worth $2,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC boosted its holdings in shares of Merit Medical Systems by 0.3% in the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after acquiring an additional 10,512 shares during the period. Conestoga Capital Advisors LLC boosted its stake in Merit Medical Systems by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock worth $226,236,000 after purchasing an additional 38,780 shares during the period. FMR LLC grew its position in Merit Medical Systems by 70.1% during the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after purchasing an additional 649,799 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Merit Medical Systems by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 727,340 shares of the medical instruments supplier’s stock valued at $71,883,000 after purchasing an additional 54,122 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Merit Medical Systems by 0.5% during the third quarter. Rockefeller Capital Management L.P. now owns 641,705 shares of the medical instruments supplier’s stock worth $63,406,000 after buying an additional 3,068 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insiders Place Their Bets

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

Merit Medical Systems Stock Performance

MMSI opened at $97.13 on Thursday. The stock’s 50 day simple moving average is $100.62 and its 200 day simple moving average is $93.66. The stock has a market cap of $5.66 billion, a P/E ratio of 47.61, a P/E/G ratio of 2.62 and a beta of 0.84. Merit Medical Systems, Inc. has a 1-year low of $70.31 and a 1-year high of $108.07. 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 (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. During the same quarter last year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on MMSI shares. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Robert W. Baird boosted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Finally, Canaccord Genuity Group lifted their target price on shares of Merit Medical Systems from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, December 9th. Two investment 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.09.

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.