Exchange Traded Concepts LLC Sells 2,829 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Exchange Traded Concepts LLC reduced its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,563 shares of the medical instruments supplier’s stock after selling 2,829 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Merit Medical Systems were worth $1,736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems in the second quarter valued at about $29,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Merit Medical Systems in the first quarter valued at about $44,000. USA Financial Formulas bought a new position in Merit Medical Systems in the third quarter worth about $59,000. Headlands Technologies LLC bought a new position in Merit Medical Systems in the first quarter worth about $50,000. Finally, GAMMA Investing LLC raised its holdings in Merit Medical Systems by 142.3% in the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock worth $71,000 after purchasing an additional 488 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI opened at $95.67 on Wednesday. The business’s 50 day moving average price is $95.27 and its 200 day moving average price is $85.97. The firm has a market cap of $5.56 billion, a P/E ratio of 54.98, a P/E/G ratio of 2.41 and a beta of 0.87. Merit Medical Systems, Inc. has a 52 week low of $63.13 and a 52 week high of $101.60. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The business had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. On average, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.31 earnings per share 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.