M&T Bank Corp Sells 5,310 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

M&T Bank Corp trimmed its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 14.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,294 shares of the medical instruments supplier's stock after selling 5,310 shares during the quarter. M&T Bank Corp owned about 0.05% of Merit Medical Systems worth $3,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Merit Medical Systems by 305.4% in the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier's stock worth $11,142,000 after acquiring an additional 84,923 shares during the last quarter. MML Investors Services LLC grew its position in Merit Medical Systems by 8.5% during the 3rd quarter. MML Investors Services LLC now owns 17,690 shares of the medical instruments supplier's stock valued at $1,748,000 after purchasing an additional 1,390 shares during the last quarter. XTX Topco Ltd bought a new stake in Merit Medical Systems during the 3rd quarter valued at about $465,000. Virtus Investment Advisers Inc. raised its holdings in Merit Medical Systems by 45.5% in the third quarter. Virtus Investment Advisers Inc. now owns 7,679 shares of the medical instruments supplier's stock worth $759,000 after buying an additional 2,400 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Merit Medical Systems by 218.9% in the third quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier's stock worth $44,029,000 after buying an additional 305,800 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Stock Performance

Merit Medical Systems stock traded down $1.99 during trading on Friday, reaching $102.76. The company had a trading volume of 405,479 shares, compared to its average volume of 435,176. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 50.37, a price-to-earnings-growth ratio of 2.62 and a beta of 0.84. 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's 50-day simple moving average is $100.37 and its 200 day simple moving average is $93.19. Merit Medical Systems, Inc. has a 52 week low of $70.31 and a 52 week high of $108.07.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 15.61% and a net margin of 9.05%. The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. Sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Insider Transactions at Merit Medical Systems

In other news, Director F. Ann Millner sold 12,500 shares of the company's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the transaction, the director now owns 32,391 shares of the company's stock, valued at $3,289,306.05. This represents a 27.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 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 disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MMSI shares. 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. Piper Sandler reissued an "overweight" rating and issued a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Barrington Research restated an "outperform" rating and issued a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Canaccord Genuity Group increased their price objective on Merit Medical Systems from $125.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Bank of America boosted their target price 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. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and an average price target of $105.09.

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.