ArrowMark Colorado Holdings LLC Sells 216,014 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

ArrowMark Colorado Holdings LLC reduced its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,455,478 shares of the medical instruments supplier’s stock after selling 216,014 shares during the quarter. Merit Medical Systems comprises 1.8% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 13th largest position. ArrowMark Colorado Holdings LLC’s holdings in Merit Medical Systems were worth $143,845,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of 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 acquiring an additional 118 shares in the last quarter. Xponance Inc. lifted its stake in Merit Medical Systems by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock valued at $311,000 after purchasing an additional 170 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Merit Medical Systems by 0.6% in the third quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock valued at $2,830,000 after buying an additional 170 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Merit Medical Systems by 2.6% during the third quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock worth $735,000 after buying an additional 187 shares in the last quarter. Finally, Hancock Whitney Corp lifted its stake in shares of Merit Medical Systems by 2.7% in the 3rd quarter. Hancock Whitney Corp now owns 8,122 shares of the medical instruments supplier’s stock valued at $803,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Insider Activity at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 16,361 shares in the company, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the stock in a transaction dated 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. This represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Analyst Ratings Changes

MMSI has been the topic of a number of recent research reports. Barrington Research reissued an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Bank of America upped their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Wells Fargo & Company raised their target price on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.36.

Merit Medical Systems Stock Up 0.2 %

Merit Medical Systems stock opened at $103.90 on Monday. Merit Medical Systems, Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $106.87. The firm’s 50-day simple moving average is $99.06 and its 200 day simple moving average is $91.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The stock has a market cap of $6.06 billion, a PE ratio of 50.93, a price-to-earnings-growth ratio of 2.58 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. Research analysts predict that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Merit Medical Systems 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.