Eagle Asset Management Inc. Lowers Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Eagle Asset Management Inc. cut its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSIFree Report) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 301,350 shares of the medical instruments supplier’s stock after selling 6,084 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.52% of Merit Medical Systems worth $30,961,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MMSI. William Blair Investment Management LLC raised its holdings in 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 worth $262,445,000 after purchasing an additional 10,512 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in Merit Medical Systems by 1.7% in the third 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock worth $63,543,000 after purchasing an additional 22,077 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 worth $71,883,000 after purchasing an additional 54,122 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Merit Medical Systems by 147.2% in the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock worth $54,545,000 after purchasing an additional 377,851 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 firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the sale, the director now directly owns 32,391 shares of the company’s stock, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the completion of the sale, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at $1,603,705.22. This trade represents a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MMSI. Robert W. Baird boosted their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Bank of America upped their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Barrington Research restated an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, 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. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.36.

View Our Latest Stock Analysis on Merit Medical Systems

Merit Medical Systems Trading Up 0.3 %

Merit Medical Systems stock opened at $105.33 on Friday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $106.87. The stock’s 50 day simple moving average is $98.41 and its two-hundred day simple moving average is $90.65. The firm has a market cap of $6.14 billion, a PE ratio of 51.63, a P/E/G ratio of 2.61 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSIGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $334.60 million. During the same quarter in the prior year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

About Merit Medical Systems

(Free Report)

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.

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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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