BNP Paribas Financial Markets Buys 124,576 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

BNP Paribas Financial Markets raised its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 310.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,724 shares of the medical instruments supplier's stock after buying an additional 124,576 shares during the period. BNP Paribas Financial Markets owned about 0.28% of Merit Medical Systems worth $16,280,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new position in Merit Medical Systems in the first quarter worth approximately $44,000. GAMMA Investing LLC boosted its stake in shares of Merit Medical Systems by 142.3% during the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier's stock worth $71,000 after acquiring an additional 488 shares in the last quarter. OLD National Bancorp IN acquired a new position in shares of Merit Medical Systems during the 2nd quarter worth about $245,000. Opal Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems during the 2nd quarter worth about $29,000. Finally, SG Americas Securities LLC raised its holdings in Merit Medical Systems by 125.3% in the 2nd quarter. SG Americas Securities LLC now owns 9,479 shares of the medical instruments supplier's stock valued at $815,000 after acquiring an additional 5,271 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MMSI shares. Barrington Research reiterated an "outperform" rating and issued a $114.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Piper Sandler reiterated an "overweight" rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Bank of America lifted their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Needham & Company LLC restated a "buy" rating and issued a $109.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. Finally, StockNews.com downgraded shares of Merit Medical Systems from a "buy" rating to a "hold" rating in a report on Sunday, November 3rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.36.

Merit Medical Systems Stock Up 0.2 %

Shares of MMSI stock traded up $0.24 on Friday, hitting $103.90. The stock had a trading volume of 148,808 shares, compared to its average volume of 418,033. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 50.93, a P/E/G ratio of 2.58 and a beta of 0.89. The stock's 50 day moving average is $99.06 and its 200-day moving average is $91.72. 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, Inc. has a 52-week low of $65.46 and a 52-week high of $106.87.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. As a group, research analysts expect that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the transaction, the director now owns 32,391 shares in the company, valued at $3,289,306.05. This represents a 27.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the completion of the transaction, the chief financial officer now owns 16,361 shares of the company's stock, valued at $1,603,705.22. This represents a 64.44 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

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.