Riverwater Partners LLC Acquires Shares of 18,048 Merit Medical Systems, Inc. (NASDAQ:MMSI)

Riverwater Partners LLC purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,048 shares of the medical instruments supplier's stock, valued at approximately $1,744,000.

A number of other institutional investors also recently added to or reduced their stakes in MMSI. Opal Wealth Advisors LLC bought a new position in shares of Merit Medical Systems during the 2nd quarter valued at about $29,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Merit Medical Systems during the 1st quarter worth approximately $44,000. USA Financial Formulas acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at approximately $59,000. Headlands Technologies LLC acquired a new stake in shares of Merit Medical Systems during the first quarter worth about $50,000. Finally, GAMMA Investing LLC boosted its position in Merit Medical Systems by 142.3% during the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier's stock worth $71,000 after acquiring an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

Shares of MMSI traded up $0.52 during trading hours on Thursday, reaching $95.87. 228,524 shares of the company traded hands, compared to its average volume of 437,311. The business has a fifty day moving average price of $96.01 and a 200-day moving average price of $86.89. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $5.57 billion, a P/E ratio of 55.10, a P/E/G ratio of 2.41 and a beta of 0.87. Merit Medical Systems, Inc. has a 12-month low of $63.13 and a 12-month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The firm had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. Equities analysts anticipate that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MMSI. Robert W. Baird initiated coverage on Merit Medical Systems in a report on Friday, June 28th. They set an "outperform" rating and a $96.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $105.00 price objective on shares of Merit Medical Systems in a research report on Monday, September 16th. Wells Fargo & Company boosted 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. Barrington Research reissued an "outperform" rating and issued a $114.00 target price on shares of Merit Medical Systems in a research note on Friday, October 18th. Finally, Piper Sandler reissued an "overweight" rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems has a consensus rating of "Moderate Buy" and an average target price of $101.82.

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.