SageView Advisory Group LLC Increases Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

SageView Advisory Group LLC raised its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 38.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,826 shares of the medical instruments supplier’s stock after buying an additional 1,331 shares during the quarter. SageView Advisory Group LLC’s holdings in Merit Medical Systems were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MMSI. Opal Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems in the second quarter valued at about $29,000. DekaBank Deutsche Girozentrale purchased a new position in Merit Medical Systems during the 1st quarter worth approximately $44,000. USA Financial Formulas purchased a new position in Merit Medical Systems during the 3rd quarter worth approximately $59,000. GAMMA Investing LLC lifted its stake in Merit Medical Systems by 142.3% during the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after acquiring an additional 488 shares during the period. Finally, National Bank of Canada FI purchased a new stake in shares of Merit Medical Systems in the 2nd quarter valued at $77,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $104.40 on Friday. 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, Inc. has a 1-year low of $67.81 and a 1-year high of $106.87. The company has a market cap of $6.08 billion, a PE ratio of 51.18, a price-to-earnings-growth ratio of 2.62 and a beta of 0.84. The stock’s 50 day simple moving average is $99.69 and its 200-day simple moving average is $92.43.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $339.85 million during the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. As a group, equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Insider Buying and Selling at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 29,646 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the completion of the sale, the chief financial officer now directly owns 16,361 shares in the company, valued at $1,603,705.22. This represents a 64.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares in the company, valued at approximately $3,289,306.05. The trade was a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $109.00 target price on shares of Merit Medical Systems in a report on Thursday, October 31st. StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Piper Sandler restated an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, Bank of America upped their price target on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.36.

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.