Quantbot Technologies LP Purchases New Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Quantbot Technologies LP acquired a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,971 shares of the medical instruments supplier’s stock, valued at approximately $2,468,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MMSI. American Century Companies Inc. lifted its position in Merit Medical Systems by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock worth $362,000 after buying an additional 118 shares in the last quarter. Xponance Inc. lifted its position in shares of Merit Medical Systems by 4.9% during the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after purchasing an additional 170 shares in the last quarter. Hancock Whitney Corp grew its stake in shares of Merit Medical Systems by 2.7% during the third quarter. Hancock Whitney Corp now owns 8,122 shares of the medical instruments supplier’s stock valued at $803,000 after purchasing an additional 214 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Merit Medical Systems by 5.9% in the third quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier’s stock valued at $394,000 after purchasing an additional 223 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Merit Medical Systems by 19.7% in the 2nd quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier’s stock worth $123,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analysts Set New Price Targets

MMSI has been the subject of a number of recent analyst reports. Bank of America upped their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. 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, Robert W. Baird increased 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. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.36.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $103.66 on Friday. 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 firm has a market cap of $6.04 billion, a price-to-earnings ratio of 50.81, a price-to-earnings-growth ratio of 2.60 and a beta of 0.89. The stock’s 50-day moving average is $98.98 and its 200-day moving average is $91.50. Merit Medical Systems, Inc. has a one year low of $65.46 and a one year high of $106.87.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. Equities analysts predict that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the transaction, the director now owns 32,391 shares of the company’s stock, valued at $3,289,306.05. The trade was a 27.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 approximately $1,603,705.22. The trade was a 64.44 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Merit Medical Systems Company 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.