MML Investors Services LLC Buys 1,390 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

MML Investors Services LLC raised its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 8.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 17,690 shares of the medical instruments supplier’s stock after purchasing an additional 1,390 shares during the quarter. MML Investors Services LLC’s holdings in Merit Medical Systems were worth $1,748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas bought a new position in shares of Merit Medical Systems during the 3rd quarter valued at $59,000. National Bank of Canada FI bought a new position in shares of Merit Medical Systems during the 2nd quarter valued at $77,000. Anfield Capital Management LLC bought a new position in shares of Merit Medical Systems during the 2nd quarter valued at $86,000. Farther Finance Advisors LLC grew its holdings 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 purchasing an additional 260 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Merit Medical Systems during the 2nd quarter valued at $112,000. Institutional investors own 99.66% of the company’s stock.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction dated 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. This represents a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MMSI. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Wells Fargo & Company raised shares of Merit Medical Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $120.00 in a research report on Wednesday, December 11th. Canaccord Genuity Group increased their price target on shares of Merit Medical Systems from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Robert W. Baird increased 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. Finally, Bank of America increased their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $105.09.

Merit Medical Systems Trading Down 3.2 %

NASDAQ:MMSI opened at $99.00 on Wednesday. The company has a 50-day moving average price of $100.59 and a 200-day moving average price of $93.64. Merit Medical Systems, Inc. has a 12 month low of $70.31 and a 12 month high of $108.07. 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 has a market cap of $5.77 billion, a price-to-earnings ratio of 48.53, a P/E/G ratio of 2.62 and a beta of 0.84.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (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 company had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. During the same period last year, the company posted $0.75 EPS. Merit Medical Systems’s revenue was up 7.8% on a year-over-year basis. Equities analysts predict that Merit Medical Systems, Inc. will post 3.36 EPS for the current year.

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.