Pathstone Holdings LLC Acquires 5,844 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Pathstone Holdings LLC grew its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 20.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,950 shares of the medical instruments supplier's stock after acquiring an additional 5,844 shares during the period. Pathstone Holdings LLC owned about 0.06% of Merit Medical Systems worth $3,454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp bought a new position in shares of Merit Medical Systems in the 3rd quarter valued at about $718,000. Lazard Asset Management LLC boosted its holdings in shares of Merit Medical Systems by 1,147.3% during the 1st quarter. Lazard Asset Management LLC now owns 7,858 shares of the medical instruments supplier's stock worth $594,000 after buying an additional 7,228 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Merit Medical Systems by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier's stock worth $63,543,000 after buying an additional 22,077 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Merit Medical Systems by 10.8% during the 2nd quarter. Natixis Advisors LLC now owns 66,535 shares of the medical instruments supplier's stock worth $5,719,000 after buying an additional 6,487 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Merit Medical Systems by 3.1% during the 2nd quarter. Raymond James & Associates now owns 129,024 shares of the medical instruments supplier's stock worth $11,090,000 after buying an additional 3,933 shares during the period. Institutional investors own 99.66% of the company's stock.

Insider Buying and Selling

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the sale, the chief financial officer now directly owns 16,361 shares of the company's stock, valued at $1,603,705.22. The trade was a 64.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director F. Ann Millner sold 12,500 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the sale, the director now directly owns 32,391 shares in the company, valued at $3,289,306.05. The trade was 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 corporate insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI traded down $0.41 during midday trading on Monday, hitting $104.92. The stock had a trading volume of 565,303 shares, compared to its average volume of 439,359. The company's 50-day moving average price is $98.59 and its 200-day moving average price is $90.99. The company has a market capitalization of $6.11 billion, a P/E ratio of 51.63, a price-to-earnings-growth ratio of 2.62 and a beta of 0.89. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $106.87.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (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 net margin of 9.05% and a return on equity of 15.61%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. As a group, equities research analysts predict that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MMSI has been the subject of several research analyst reports. StockNews.com downgraded shares of Merit Medical Systems from a "buy" rating to a "hold" rating in a report on Sunday, November 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $109.00 target price on shares of Merit Medical Systems in a report on Thursday, October 31st. Bank of America lifted their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a "neutral" rating in a research note on Monday, September 16th. Robert W. Baird lifted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price objective on shares of 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 investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Merit Medical Systems presently has an average rating of "Moderate Buy" and an average target price of $103.36.

Merit Medical Systems 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.