Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by Quest Partners LLC

Quest Partners LLC raised its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 92.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,843 shares of the medical instruments supplier's stock after purchasing an additional 5,695 shares during the period. Quest Partners LLC's holdings in Merit Medical Systems were worth $1,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in Merit Medical Systems by 2.9% during the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier's stock valued at $362,000 after buying an additional 118 shares during the last quarter. Xponance Inc. increased its position in Merit Medical Systems by 4.9% in the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier's stock worth $311,000 after purchasing an additional 170 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Merit Medical Systems by 5.9% in the 3rd quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier's stock worth $394,000 after buying an additional 223 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Merit Medical Systems by 19.7% in the 2nd quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier's stock worth $123,000 after buying an additional 235 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Merit Medical Systems by 32.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier's stock valued at $104,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Down 0.6 %

Shares of MMSI traded down $0.63 during midday trading on Wednesday, reaching $104.08. 345,173 shares of the stock were exchanged, compared to its average volume of 439,698. The company has a market capitalization of $6.07 billion, a P/E ratio of 51.01, a PEG ratio of 2.53 and a beta of 0.89. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 52 week low of $65.46 and a 52 week high of $105.46. The company's 50 day moving average is $98.09 and its two-hundred day moving average is $90.46.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its earnings results 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. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. During the same quarter last year, the firm posted $0.75 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Insiders Place Their Bets

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of Merit Medical Systems stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the transaction, the chief financial officer now directly owns 16,361 shares of the company's stock, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the sale, the director now owns 32,391 shares of the company's stock, valued at approximately $3,289,306.05. This represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on MMSI. Needham & Company LLC restated a "buy" rating and set a $109.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Piper Sandler reissued an "overweight" rating and issued a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research note 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 note on Thursday, October 31st. Robert W. Baird increased 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 report on Thursday, October 31st. Finally, Bank of America raised 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. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Merit Medical Systems currently 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.