Amalgamated Bank Lowers Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Amalgamated Bank cut its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,711 shares of the medical instruments supplier’s stock after selling 529 shares during the period. Amalgamated Bank’s holdings in Merit Medical Systems were worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MMSI. Congress Asset Management Co. MA boosted its stake in shares of Merit Medical Systems by 4,411.3% in the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock worth $39,275,000 after acquiring an additional 506,992 shares during the period. Norges Bank purchased a new stake in Merit Medical Systems during the 4th quarter valued at approximately $38,165,000. The Manufacturers Life Insurance Company raised its position in shares of Merit Medical Systems by 818.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock valued at $21,151,000 after buying an additional 248,140 shares during the last quarter. F M Investments LLC purchased a new position in shares of Merit Medical Systems in the second quarter worth $12,550,000. Finally, Westwood Holdings Group Inc. boosted its position in shares of Merit Medical Systems by 17.6% during the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after acquiring an additional 131,977 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors.

Insider Activity at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Canaccord Genuity Group boosted their target price on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $105.00 target price on shares of Merit Medical Systems in a report on Monday, September 16th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems Stock Down 1.4 %

NASDAQ:MMSI opened at $98.18 on Thursday. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 56.43, a price-to-earnings-growth ratio of 2.52 and a beta of 0.87. Merit Medical Systems, Inc. has a twelve month low of $62.58 and a twelve month high of $101.60. 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 fifty day simple moving average of $92.49 and a 200-day simple moving average of $83.66.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data 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 company had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. Analysts anticipate that Merit Medical Systems, Inc. will post 3.31 EPS 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.