5,568 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Purchased by Smith Group Asset Management LLC

Smith Group Asset Management LLC acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,568 shares of the medical instruments supplier's stock, valued at approximately $550,000.

A number of other hedge funds have also recently added to or reduced their stakes in MMSI. Opal Wealth Advisors LLC acquired a new stake in shares of Merit Medical Systems in the second quarter valued at $29,000. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems during the first quarter worth approximately $44,000. Headlands Technologies LLC bought a new stake in shares of Merit Medical Systems in the first quarter valued at about $50,000. USA Financial Formulas acquired a new stake in Merit Medical Systems during the third quarter worth approximately $59,000. Finally, EntryPoint Capital LLC increased its stake in Merit Medical Systems by 2,666.7% in the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier's stock valued at $69,000 after acquiring an additional 880 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company's stock.

Merit Medical Systems Stock Up 0.6 %

NASDAQ MMSI traded up $0.59 during trading on Tuesday, reaching $95.90. 393,029 shares of the company's stock were exchanged, compared to its average volume of 435,916. The company has a 50 day moving average price of $96.20 and a two-hundred day moving average price of $87.41. The stock has a market cap of $5.57 billion, a P/E ratio of 54.60, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. Merit Medical Systems, Inc. has a 1 year low of $65.46 and a 1 year high of $101.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24.

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

Analyst Ratings Changes

A number of research analysts have recently commented on MMSI shares. StockNews.com upgraded Merit Medical Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Barrington Research restated an "outperform" rating and issued a $114.00 target price on shares of Merit Medical Systems in a report on Friday, October 18th. Canaccord Genuity Group increased their price target on Merit Medical Systems from $102.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, July 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $105.00 price target on shares of Merit Medical Systems in a research report on Monday, September 16th. Finally, Bank of America lifted their price objective 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. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $101.82.

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.