Charles Schwab Investment Management Inc. Buys 54,122 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Charles Schwab Investment Management Inc. boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 8.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 727,340 shares of the medical instruments supplier's stock after purchasing an additional 54,122 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.25% of Merit Medical Systems worth $71,883,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. raised its position in Merit Medical Systems by 147.2% in the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier's stock valued at $54,545,000 after purchasing an additional 377,851 shares during the period. International Assets Investment Management LLC purchased a new stake in Merit Medical Systems during the 3rd quarter worth approximately $21,156,000. Handelsbanken Fonder AB raised its position in shares of Merit Medical Systems by 1,343.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 192,109 shares of the medical instruments supplier's stock valued at $18,986,000 after purchasing an additional 178,800 shares in the last quarter. F M Investments LLC purchased a new position in shares of Merit Medical Systems during the 2nd quarter valued at approximately $12,550,000. Finally, Impax Asset Management Group plc bought a new stake in shares of Merit Medical Systems in the third quarter worth $11,860,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Raul Jr. Parra sold 29,646 shares of the firm's 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 transaction, the chief financial officer now directly owns 16,361 shares in the company, valued at approximately $1,603,705.22. This trade represents a 64.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director F. Ann Millner sold 12,500 shares of the company's stock in a transaction dated 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 owns 32,391 shares of the company's stock, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. StockNews.com cut shares of Merit Medical Systems from a "buy" rating to a "hold" rating in a report on Sunday, November 3rd. Piper Sandler restated 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. Bank of America increased their price target 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. Finally, Wells Fargo & Company boosted their price objective on 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 research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $103.36.

Merit Medical Systems Stock Up 0.2 %

Shares of NASDAQ:MMSI traded up $0.24 during midday trading on Friday, hitting $103.90. 148,806 shares of the stock were exchanged, compared to its average volume of 437,085. The company has a market capitalization of $6.06 billion, a PE ratio of 50.81, a P/E/G ratio of 2.57 and a beta of 0.89. Merit Medical Systems, Inc. has a 52-week low of $65.46 and a 52-week high of $106.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The business's fifty day simple moving average is $98.98 and its two-hundred day simple moving average is $91.50.

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