Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,222 shares of the medical instruments supplier’s stock after acquiring an additional 695 shares during the period. Rhumbline Advisers owned approximately 0.29% of Merit Medical Systems worth $14,287,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Conestoga Capital Advisors LLC raised its position in Merit Medical Systems by 3.5% during the second quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock worth $193,419,000 after acquiring an additional 75,885 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Merit Medical Systems by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after purchasing an additional 41,065 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in Merit Medical Systems by 17.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after buying an additional 131,977 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Merit Medical Systems by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock valued at $63,543,000 after buying an additional 22,077 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Merit Medical Systems by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 652,626 shares of the medical instruments supplier’s stock worth $49,573,000 after buying an additional 10,659 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the completion of the sale, the director now owns 32,391 shares in the company, valued at $2,753,235. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $96.76 on Wednesday. The firm has a market capitalization of $5.63 billion, a PE ratio of 55.61, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. Merit Medical Systems, Inc. has a one year low of $62.58 and a one year high of $98.04. The stock’s 50 day moving average price is $89.78 and its 200 day moving average price is $82.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $338.00 million for 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%. As a group, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on MMSI shares. 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. StockNews.com raised shares of Merit Medical Systems from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a research report on Friday, June 28th. Piper Sandler restated an “overweight” rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday. Finally, Needham & Company LLC boosted their price target on Merit Medical Systems from $94.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Merit Medical Systems has an average rating of “Buy” and an average price target of $99.20.

Merit Medical Systems 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.