Palouse Capital Management Inc. Sells 1,342 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Palouse Capital Management Inc. trimmed its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 61.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 844 shares of the medical instruments supplier’s stock after selling 1,342 shares during the period. Palouse Capital Management Inc.’s holdings in Merit Medical Systems were worth $83,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MMSI. American Century Companies Inc. increased its holdings in shares of Merit Medical Systems by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock worth $362,000 after buying an additional 118 shares during the last quarter. Xponance Inc. increased its stake 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 valued at $311,000 after acquiring an additional 170 shares during the last quarter. Entropy Technologies LP raised its position in Merit Medical Systems by 6.5% during the first quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock valued at $251,000 after purchasing an additional 203 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Merit Medical Systems by 5.9% during the third quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier’s stock worth $394,000 after purchasing an additional 223 shares during the last quarter. Finally, Blue Trust Inc. boosted 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 purchasing an additional 235 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Stock Down 1.3 %

NASDAQ:MMSI traded down $1.25 on Monday, reaching $95.23. 78,762 shares of the stock traded hands, compared to its average volume of 439,601. The company’s fifty day simple moving average is $95.61 and its 200 day simple moving average is $86.44. Merit Medical Systems, Inc. has a 12 month low of $63.13 and a 12 month high of $101.60. 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 company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 55.45, a PEG ratio of 2.41 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate 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 company had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. Equities analysts predict that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Analyst Ratings Changes

MMSI has been the subject of several research reports. Wells Fargo & Company upped their target price on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Needham & Company LLC restated a “buy” rating and set a $105.00 price target on shares of Merit Medical Systems in a research report on Monday, September 16th. Robert W. Baird assumed coverage on Merit Medical Systems in a research report on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective for the company. Barrington Research reaffirmed an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research note on Friday. Finally, Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.82.

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.