Farther Finance Advisors LLC Buys 260 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Farther Finance Advisors LLC lifted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 32.7% during the third quarter, HoldingsChannel reports. The firm owned 1,056 shares of the medical instruments supplier’s stock after acquiring an additional 260 shares during the quarter. Farther Finance Advisors LLC’s holdings in Merit Medical Systems were worth $104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMSI. Quantbot Technologies LP raised its stake in shares of Merit Medical Systems by 17,716.1% during the 1st quarter. Quantbot Technologies LP now owns 9,977 shares of the medical instruments supplier’s stock worth $756,000 after purchasing an additional 9,921 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Merit Medical Systems by 97.4% during the 1st quarter. SG Americas Securities LLC now owns 4,208 shares of the medical instruments supplier’s stock worth $319,000 after purchasing an additional 2,076 shares in the last quarter. Swiss National Bank raised its stake in shares of Merit Medical Systems by 0.4% during the 1st quarter. Swiss National Bank now owns 114,000 shares of the medical instruments supplier’s stock worth $8,636,000 after purchasing an additional 500 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Merit Medical Systems during the 1st quarter worth approximately $50,000. Finally, ProShare Advisors LLC raised its stake in shares of Merit Medical Systems by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,484 shares of the medical instruments supplier’s stock worth $870,000 after purchasing an additional 790 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MMSI. Wells Fargo & Company increased their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Bank of America increased their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Piper Sandler restated 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. Barrington Research restated an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Finally, StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $103.36.

Insider Transactions at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the sale, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by insiders.

Merit Medical Systems Stock Up 1.3 %

MMSI stock opened at $104.10 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 50.98, a PEG ratio of 2.55 and a beta of 0.89. The business’s fifty day moving average price is $97.19 and its two-hundred day moving average price is $89.10. Merit Medical Systems, Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $105.15.

Merit Medical Systems (NASDAQ:MMSI) last released 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. The company had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. Merit Medical Systems’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. On average, equities analysts anticipate that Merit Medical Systems, Inc. will post 3.36 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.