USA Financial Formulas Makes New $59,000 Investment in Merit Medical Systems, Inc. (NASDAQ:MMSI)

USA Financial Formulas acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 592 shares of the medical instruments supplier’s stock, valued at approximately $59,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Merit Medical Systems during the 2nd quarter worth $29,000. DekaBank Deutsche Girozentrale bought a new position in shares of Merit Medical Systems in the 1st quarter valued at $44,000. Headlands Technologies LLC bought a new position in shares of Merit Medical Systems in the 1st quarter valued at $50,000. GAMMA Investing LLC increased its stake in shares of Merit Medical Systems by 142.3% in the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after purchasing an additional 488 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Merit Medical Systems in the 2nd quarter valued at $77,000. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Down 1.9 %

Shares of MMSI opened at $93.76 on Friday. The company has a market capitalization of $5.46 billion, a PE ratio of 46.88, a PEG ratio of 2.41 and a beta of 0.87. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average price is $94.68 and its two-hundred day moving average price is $85.32. Merit Medical Systems, Inc. has a 12 month low of $62.58 and a 12 month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The business had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. On average, analysts anticipate that Merit Medical Systems, Inc. will post 3.31 EPS for the current year.

Analyst Ratings Changes

MMSI has been the topic of several recent analyst reports. Barrington Research lifted their price target on Merit Medical Systems from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 18th. Bank of America lifted their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Canaccord Genuity Group raised their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.82.

Merit Medical Systems Company 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.