Fisher Asset Management LLC Boosts Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Fisher Asset Management LLC increased its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,690 shares of the medical instruments supplier's stock after purchasing an additional 6,837 shares during the quarter. Fisher Asset Management LLC owned 0.38% of Merit Medical Systems worth $21,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Marco Investment Management LLC acquired a new stake in shares of Merit Medical Systems during the third quarter worth about $247,000. Citigroup Inc. lifted its holdings in Merit Medical Systems by 71.0% during the 3rd quarter. Citigroup Inc. now owns 74,656 shares of the medical instruments supplier's stock worth $7,378,000 after buying an additional 30,988 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Merit Medical Systems by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 727,340 shares of the medical instruments supplier's stock valued at $71,883,000 after buying an additional 54,122 shares during the period. Intech Investment Management LLC grew its stake in shares of Merit Medical Systems by 67.6% in the third quarter. Intech Investment Management LLC now owns 14,024 shares of the medical instruments supplier's stock worth $1,386,000 after acquiring an additional 5,654 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new stake in shares of Merit Medical Systems during the third quarter worth $5,462,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MMSI has been the subject of a number of recent research reports. StockNews.com cut Merit Medical Systems from a "buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Wells Fargo & Company lifted their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the company an "equal weight" rating in a research note on Monday, September 16th. Needham & Company LLC restated a "buy" rating and set a $109.00 target price on shares of Merit Medical Systems in a research note on Thursday, October 31st. Piper Sandler reiterated an "overweight" rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Finally, Robert W. Baird boosted their price target 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.36.

Merit Medical Systems Stock Performance

Shares of MMSI stock traded down $0.34 during trading hours on Thursday, hitting $103.66. The stock had a trading volume of 292,558 shares, compared to its average volume of 438,337. 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 capitalization of $6.04 billion, a PE ratio of 50.81, a PEG ratio of 2.60 and a beta of 0.89. The stock's 50 day moving average is $98.91 and its 200 day moving average is $91.41. Merit Medical Systems, Inc. has a twelve month low of $65.46 and a twelve month high of $106.87.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The company had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company's revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. As a group, research analysts forecast that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 trade represents a 27.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 directly owns 16,361 shares in the company, valued at approximately $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 currently owned by insiders.

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.