The Manufacturers Life Insurance Company Lowers Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

The Manufacturers Life Insurance Company decreased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,549 shares of the medical instruments supplier's stock after selling 14,373 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.46% of Merit Medical Systems worth $26,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hancock Whitney Corp raised its position in Merit Medical Systems by 2.7% in the third quarter. Hancock Whitney Corp now owns 8,122 shares of the medical instruments supplier's stock valued at $803,000 after purchasing an additional 214 shares during the last quarter. DRW Securities LLC bought a new position in Merit Medical Systems in the 3rd quarter valued at approximately $203,000. Harvest Fund Management Co. Ltd acquired a new stake in Merit Medical Systems during the 3rd quarter worth approximately $120,000. Dynamic Technology Lab Private Ltd bought a new stake in Merit Medical Systems during the 3rd quarter worth approximately $228,000. Finally, Fisher Asset Management LLC increased its position in Merit Medical Systems by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier's stock valued at $21,910,000 after acquiring an additional 6,837 shares during the period. Institutional investors own 99.66% of the company's stock.

Insiders Place Their Bets

In related news, CFO Raul Jr. Parra sold 29,646 shares of Merit Medical Systems stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 16,361 shares in the company, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated 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 transaction, the director now directly owns 32,391 shares of the company's stock, valued at $3,289,306.05. The trade was a 27.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Merit Medical Systems Stock Up 0.2 %

Shares of MMSI stock traded up $0.24 on Friday, reaching $103.90. 148,808 shares of the company were exchanged, compared to its average volume of 437,085. Merit Medical Systems, Inc. has a one year low of $65.46 and a one year high of $106.87. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 2.57 and a beta of 0.89. The company has a 50-day moving average of $99.06 and a 200-day moving average of $91.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

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. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The firm had revenue of $339.85 million during the quarter, compared to analysts' expectations of $334.60 million. During the same quarter last year, the firm posted $0.75 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts anticipate that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on MMSI. StockNews.com cut shares of Merit Medical Systems from a "buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Bank of America upped their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. Piper Sandler restated an "overweight" rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird upped their target price on Merit Medical Systems from $107.00 to $109.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Finally, 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. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.36.

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.