Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Bought by Tidal Investments LLC

Tidal Investments LLC grew its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,398 shares of the medical instruments supplier’s stock after buying an additional 104 shares during the period. Tidal Investments LLC’s holdings in Merit Medical Systems were worth $1,028,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its stake in Merit Medical Systems by 305.4% in the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock valued at $11,142,000 after acquiring an additional 84,923 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $718,000. Fisher Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 6,837 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Merit Medical Systems by 10.8% in the 2nd quarter. Natixis Advisors LLC now owns 66,535 shares of the medical instruments supplier’s stock valued at $5,719,000 after purchasing an additional 6,487 shares during the period. Finally, Raymond James & Associates grew its stake in 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 last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on MMSI. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Canaccord Genuity Group upped their target price on shares of Merit Medical Systems from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Robert W. Baird raised their price target on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.09.

Merit Medical Systems Price Performance

Shares of MMSI opened at $96.27 on Friday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $100.67 and its two-hundred day moving average is $93.68. Merit Medical Systems, Inc. has a twelve month low of $70.51 and a twelve month high of $108.07. The firm has a market capitalization of $5.61 billion, a PE ratio of 47.19, a P/E/G ratio of 2.62 and a beta of 0.84.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share 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 for the quarter, compared to the consensus estimate of $334.60 million. During the same period in the previous year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research 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, Director F. Ann Millner sold 12,500 shares of the 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 completion of the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction 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. The trade was a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

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.