Quantbot Technologies LP Buys Shares of 24,971 Merit Medical Systems, Inc. (NASDAQ:MMSI)

Quantbot Technologies LP bought a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,971 shares of the medical instruments supplier's stock, valued at approximately $2,468,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MMSI. Opal Wealth Advisors LLC bought a new position in shares of Merit Medical Systems in the second quarter valued at approximately $29,000. DekaBank Deutsche Girozentrale bought a new position in Merit Medical Systems in the 1st quarter worth $44,000. USA Financial Formulas acquired a new position in Merit Medical Systems during the 3rd quarter worth $59,000. GAMMA Investing LLC boosted its holdings in Merit Medical Systems by 142.3% during the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier's stock valued at $71,000 after acquiring an additional 488 shares during the period. Finally, National Bank of Canada FI acquired a new stake in Merit Medical Systems in the 2nd quarter valued at approximately $77,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Stock Up 0.2 %

MMSI traded up $0.24 during trading on Friday, reaching $103.90. 148,808 shares of the stock were exchanged, compared to its average volume of 437,085. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The stock's 50 day moving average price is $98.98 and its two-hundred day moving average price is $91.50. Merit Medical Systems, Inc. has a twelve month low of $65.46 and a twelve month high of $106.87. The stock has a market cap of $6.06 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. The company had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The company's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Equities analysts expect that Merit Medical Systems, Inc. will post 3.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price 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. Barrington Research restated an "outperform" rating and set a $114.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. StockNews.com cut Merit Medical Systems from a "buy" rating to a "hold" rating in a report on Sunday, November 3rd. Piper Sandler reaffirmed 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. Finally, Robert W. Baird boosted their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.36.

Insiders Place Their Bets

In other news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction on 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 transaction, the director now owns 32,391 shares in the company, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Raul Jr. Parra sold 29,646 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was 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 owns 16,361 shares of the company's stock, valued at approximately $1,603,705.22. This represents a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

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.