International Assets Investment Management LLC Makes New $21.16 Million Investment in Merit Medical Systems, Inc. (NASDAQ:MMSI)

International Assets Investment Management LLC acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 214,066 shares of the medical instruments supplier's stock, valued at approximately $21,156,000. International Assets Investment Management LLC owned approximately 0.37% of Merit Medical Systems as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. William Blair Investment Management LLC lifted its position in shares of Merit Medical Systems by 0.3% in the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier's stock worth $262,445,000 after purchasing an additional 10,512 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Merit Medical Systems by 3.5% during the second quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier's stock worth $193,419,000 after acquiring an additional 75,885 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Merit Medical Systems by 17.6% during the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier's stock worth $66,685,000 after acquiring an additional 131,977 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Merit Medical Systems by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier's stock worth $63,543,000 after acquiring an additional 22,077 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Merit Medical Systems by 147.2% during the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier's stock worth $54,545,000 after acquiring an additional 377,851 shares in the last quarter. Institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Performance

Shares of MMSI stock traded down $1.00 on Wednesday, hitting $94.90. The company's stock had a trading volume of 435,759 shares, compared to its average volume of 435,916. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. The stock's 50 day moving average is $96.30 and its 200-day moving average is $87.57. Merit Medical Systems, Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $101.60. The company has a market capitalization of $5.51 billion, a PE ratio of 54.82, a PEG ratio of 2.41 and a beta of 0.87.

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 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. Equities research analysts expect that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on MMSI. Wells Fargo & Company upped 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 report on Monday, September 16th. Piper Sandler reaffirmed an "overweight" rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Barrington Research reaffirmed an "outperform" rating and set a $114.00 price target on shares of Merit Medical Systems in a research report on Friday, October 18th. Canaccord Genuity Group upped their price target on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, July 2nd. Finally, Bank of America upped their price target on shares of 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 equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.