Lisanti Capital Growth LLC Invests $845,000 in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Lisanti Capital Growth LLC purchased a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,545 shares of the medical instruments supplier's stock, valued at approximately $845,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP grew its position in shares of Merit Medical Systems by 17,716.1% in the 1st quarter. Quantbot Technologies LP now owns 9,977 shares of the medical instruments supplier's stock worth $756,000 after buying an additional 9,921 shares during the period. SG Americas Securities LLC raised its stake in Merit Medical Systems by 97.4% during the 1st quarter. SG Americas Securities LLC now owns 4,208 shares of the medical instruments supplier's stock worth $319,000 after acquiring an additional 2,076 shares during the period. Swiss National Bank boosted its stake in shares of Merit Medical Systems by 0.4% in the first quarter. Swiss National Bank now owns 114,000 shares of the medical instruments supplier's stock worth $8,636,000 after acquiring an additional 500 shares during the period. Headlands Technologies LLC purchased a new position in shares of Merit Medical Systems during the first quarter valued at about $50,000. Finally, ProShare Advisors LLC lifted its position in Merit Medical Systems by 7.4% during the first quarter. ProShare Advisors LLC now owns 11,484 shares of the medical instruments supplier's stock valued at $870,000 after purchasing an additional 790 shares during the last quarter. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI traded up $0.14 during mid-day trading on Tuesday, reaching $104.24. The company had a trading volume of 521,164 shares, compared to its average volume of 442,220. The company has a 50-day moving average price of $97.34 and a two-hundred day moving average price of $89.32. The stock has a market cap of $6.08 billion, a PE ratio of 51.03, a P/E/G ratio of 2.55 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. Merit Medical Systems, Inc. has a 1-year low of $65.46 and a 1-year high of $105.46.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating 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 business had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. During the same period last year, the business posted $0.75 EPS. Merit Medical Systems's revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $109.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Bank of America boosted their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a "neutral" rating in a report on Monday, September 16th. StockNews.com cut Merit Medical Systems from a "buy" rating to a "hold" rating in a report on Sunday, November 3rd. Piper Sandler reissued an "overweight" rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, Wells Fargo & Company lifted their price target on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $103.36.

Insider Buying and Selling

In related news, CFO Raul Jr. Parra sold 29,646 shares of Merit Medical Systems stock in a transaction 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 completion of the sale, the chief financial officer now owns 16,361 shares of the company's stock, valued at approximately $1,603,705.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by 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.