Los Angeles Capital Management LLC Takes Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Los Angeles Capital Management LLC bought a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 5,866 shares of the medical instruments supplier's stock, valued at approximately $580,000.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its holdings in Merit Medical Systems by 97.4% in the first quarter. SG Americas Securities LLC now owns 4,208 shares of the medical instruments supplier's stock valued at $319,000 after acquiring an additional 2,076 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Merit Medical Systems by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,484 shares of the medical instruments supplier's stock worth $870,000 after purchasing an additional 790 shares during the period. Entropy Technologies LP grew its holdings in shares of Merit Medical Systems by 6.5% during the 1st quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier's stock worth $251,000 after purchasing an additional 203 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Merit Medical Systems by 36.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,144 shares of the medical instruments supplier's stock worth $1,638,000 after purchasing an additional 5,915 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in Merit Medical Systems by 17.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,797 shares of the medical instruments supplier's stock valued at $288,000 after buying an additional 572 shares during the period. Hedge funds and other institutional investors own 99.66% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MMSI. Piper Sandler reaffirmed an "overweight" rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Barrington Research reaffirmed an "outperform" rating and set a $114.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Robert W. Baird boosted their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Bank of America raised their price target on Merit Medical Systems from $92.00 to $103.00 and gave the stock a "neutral" rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company boosted their price target on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.36.

Insider Transactions at Merit Medical Systems

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 transaction of $2,905,900.92. Following the sale, the chief financial officer now directly owns 16,361 shares in the company, valued at $1,603,705.22. This trade represents a 64.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company's stock.

Merit Medical Systems Stock Up 0.6 %

Shares of MMSI stock traded up $0.63 on Friday, reaching $101.83. 440,418 shares of the stock were exchanged, compared to its average volume of 428,748. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 2.53 and a beta of 0.89. The business's 50 day moving average price is $97.80 and its 200 day moving average price is $89.99. 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 $65.46 and a twelve month high of $105.46.

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 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. The business 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 business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. As a group, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal 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.