Virtus Investment Advisers Inc. Buys 2,400 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Virtus Investment Advisers Inc. grew its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 45.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,679 shares of the medical instruments supplier’s stock after purchasing an additional 2,400 shares during the period. Virtus Investment Advisers Inc.’s holdings in Merit Medical Systems were worth $759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. lifted its position in Merit Medical Systems by 2.9% in the second 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 during the last quarter. Xponance Inc. raised its stake in shares of Merit Medical Systems by 4.9% in the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock valued at $311,000 after acquiring an additional 170 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Merit Medical Systems by 0.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock worth $2,830,000 after acquiring an additional 170 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock worth $735,000 after purchasing an additional 187 shares during the period. Finally, Hancock Whitney Corp grew its holdings in Merit Medical Systems by 2.7% during the 3rd 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. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insider Transactions at Merit Medical Systems

In other 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 transaction of $2,905,900.92. Following the sale, the chief financial officer now owns 16,361 shares in the company, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were 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 in the company, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $104.70 on Friday. The company has a market capitalization of $6.10 billion, a PE ratio of 51.32, a P/E/G ratio of 2.60 and a beta of 0.84. The company has a 50-day simple moving average of $99.55 and a two-hundred day simple moving average of $92.28. Merit Medical Systems, Inc. has a one year low of $65.46 and a one year high of $106.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

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

Analyst Ratings Changes

MMSI has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. Barrington Research reiterated an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Robert W. Baird boosted their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. 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 research report on Monday, September 16th. Finally, Wells Fargo & Company lifted their target price on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and an average price target of $103.36.

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.