DRW Securities LLC Takes Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

DRW Securities LLC bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter, HoldingsChannel reports. The firm bought 2,059 shares of the medical instruments supplier’s stock, valued at approximately $203,000.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in Merit Medical Systems in the 2nd quarter worth approximately $29,000. DekaBank Deutsche Girozentrale purchased a new stake in Merit Medical Systems in the first quarter worth $44,000. USA Financial Formulas bought a new stake in Merit Medical Systems in the third quarter valued at $59,000. GAMMA Investing LLC increased its position 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 purchasing an additional 488 shares during the period. Finally, National Bank of Canada FI bought a new position in Merit Medical Systems in the 2nd quarter worth $77,000. 99.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird upped 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 cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Finally, Barrington Research reissued an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.36.

Insiders Place Their Bets

In other 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 sale, the director now owns 32,391 shares of the company’s stock, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at $1,603,705.22. The trade was 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 Performance

Shares of Merit Medical Systems stock opened at $103.66 on Thursday. Merit Medical Systems, Inc. has a 1 year low of $65.46 and a 1 year high of $106.87. The firm’s 50-day moving average is $98.91 and its 200 day moving average is $91.41. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 2.60 and a beta of 0.89. 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 (NASDAQ:MMSI) last posted its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 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 firm had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

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.