Impax Asset Management Group plc Acquires Shares of 120,000 Merit Medical Systems, Inc. (NASDAQ:MMSI)

Impax Asset Management Group plc bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 120,000 shares of the medical instruments supplier's stock, valued at approximately $11,860,000. Impax Asset Management Group plc owned 0.21% of Merit Medical Systems as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMSI. Zions Bancorporation N.A. lifted its holdings in Merit Medical Systems by 18.6% in the 3rd quarter. Zions Bancorporation N.A. now owns 37,070 shares of the medical instruments supplier's stock worth $3,664,000 after buying an additional 5,819 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in Merit Medical Systems in the third quarter valued at about $845,000. Chartwell Investment Partners LLC grew its stake in Merit Medical Systems by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 41,706 shares of the medical instruments supplier's stock valued at $4,122,000 after purchasing an additional 328 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Merit Medical Systems during the 3rd quarter worth approximately $580,000. Finally, Atria Investments Inc raised its position in shares of Merit Medical Systems by 25.5% in the 3rd quarter. Atria Investments Inc now owns 10,461 shares of the medical instruments supplier's stock valued at $1,034,000 after purchasing an additional 2,127 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a "neutral" rating in a research report on Monday, September 16th. Barrington Research reissued an "outperform" rating and set a $114.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Robert W. Baird upped their target price on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. StockNews.com downgraded Merit Medical Systems from a "buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Finally, Piper Sandler reissued an "overweight" rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Three investment 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $103.36.

Insiders Place Their Bets

In other news, CFO Raul Jr. Parra sold 29,646 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the transaction, the chief financial officer now owns 16,361 shares of the company's stock, valued at $1,603,705.22. The trade was a 64.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Merit Medical Systems Stock Performance

MMSI traded up $0.63 during trading on Friday, reaching $101.83. 440,418 shares of the company were exchanged, compared to its average volume of 441,337. Merit Medical Systems, Inc. has a 52 week low of $65.46 and a 52 week high of $105.46. The stock has a market cap of $5.93 billion, a P/E ratio of 49.92, a PEG ratio of 2.52 and a beta of 0.89. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $97.80 and a 200 day moving average of $89.88.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm 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%. Merit Medical Systems's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, sell-side analysts forecast 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.