1,218 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,218 shares of the medical instruments supplier’s stock, valued at approximately $120,000.

Other hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Merit Medical Systems in the second quarter worth about $29,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Merit Medical Systems in the first quarter worth approximately $44,000. USA Financial Formulas purchased a new position in shares of Merit Medical Systems in the third quarter worth approximately $59,000. GAMMA Investing LLC grew its position in Merit Medical Systems by 142.3% during the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after buying an additional 488 shares during the period. Finally, National Bank of Canada FI purchased a new stake in Merit Medical Systems during the second quarter valued at approximately $77,000. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Merit Medical Systems news, 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 sale, the director now owns 32,391 shares of the company’s stock, valued at $3,289,306.05. The trade was a 27.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief financial officer now directly owns 16,361 shares in the company, valued at $1,603,705.22. This trade represents a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Down 0.3 %

NASDAQ MMSI opened at $103.66 on Thursday. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $106.87. 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 $6.04 billion, a PE ratio of 50.81, a P/E/G ratio of 2.60 and a beta of 0.89. The stock’s 50 day moving average is $98.91 and its 200 day moving average is $91.41.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $339.85 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Research analysts predict that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MMSI shares. Wells Fargo & Company lifted their price target on shares of 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. Robert W. Baird raised their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Three investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.36.

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.