Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 43.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 559,395 shares of the medical instruments supplier's stock after acquiring an additional 168,174 shares during the period. Franklin Resources Inc. owned 0.96% of Merit Medical Systems worth $53,433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in shares of Merit Medical Systems during the 3rd quarter worth $59,000. National Bank of Canada FI purchased a new position in Merit Medical Systems during the second quarter worth about $77,000. Anfield Capital Management LLC acquired a new stake in shares of Merit Medical Systems during the second quarter valued at about $86,000. Farther Finance Advisors LLC raised its stake in shares of Merit Medical Systems by 32.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier's stock valued at $104,000 after acquiring an additional 260 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Merit Medical Systems in the 2nd quarter worth approximately $112,000. Institutional investors and hedge funds own 99.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MMSI shares. Canaccord Genuity Group lifted their target price on shares of Merit Medical Systems from $125.00 to $127.00 and gave the company a "buy" rating in a report on Monday, December 9th. Bank of America lifted their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the company a "neutral" rating in a research note 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. Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, Needham & Company LLC reissued a "buy" rating and set a $109.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Merit Medical Systems currently has an average rating of "Moderate Buy" and a consensus price target of $105.09.

Insider Transactions at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction on 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 sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Raul Jr. Parra sold 29,646 shares of the company's stock in a transaction on 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. Insiders own 3.70% of the company's stock.

Merit Medical Systems Stock Down 1.9 %

NASDAQ:MMSI traded down $1.87 during mid-day trading on Wednesday, hitting $97.13. The stock had a trading volume of 551,716 shares, compared to its average volume of 435,913. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a twelve month low of $70.31 and a twelve month high of $108.07. The company has a market capitalization of $5.66 billion, a PE ratio of 47.61, a PEG ratio of 2.62 and a beta of 0.84. The stock has a 50-day simple moving average of $100.62 and a two-hundred day simple moving average of $93.66.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $339.85 million during the quarter, compared to analysts' expectations of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. On average, equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.36 EPS for the current year.

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.