72,638 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 72,638 shares of the medical instruments supplier’s stock, valued at approximately $5,502,000.

A number of other hedge funds have also recently bought and sold shares of MMSI. Diversified Trust Co increased its stake in Merit Medical Systems by 5.4% in the 1st quarter. Diversified Trust Co now owns 11,293 shares of the medical instruments supplier’s stock worth $855,000 after purchasing an additional 577 shares in the last quarter. Guidance Capital Inc. purchased a new position in Merit Medical Systems in the 1st quarter worth about $403,000. Congress Asset Management Co. MA increased its stake in Merit Medical Systems by 4,411.3% in the 1st quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock worth $39,275,000 after purchasing an additional 506,992 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Merit Medical Systems in the 4th quarter worth about $96,000. Finally, Nomura Holdings Inc. purchased a new position in Merit Medical Systems in the 4th quarter worth about $346,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Down 0.4 %

Shares of Merit Medical Systems stock traded down $0.31 during trading on Monday, hitting $85.64. 626,377 shares of the stock traded hands, compared to its average volume of 450,910. The stock has a market cap of $4.98 billion, a P/E ratio of 49.22, a PEG ratio of 2.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.38 and a current ratio of 6.03. Merit Medical Systems, Inc. has a twelve month low of $62.58 and a twelve month high of $86.44. The company has a fifty day moving average price of $80.85 and a two-hundred day moving average price of $77.75.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The firm had revenue of $323.51 million during the quarter, compared to analyst estimates of $315.57 million. During the same period in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. CL King assumed coverage on Merit Medical Systems in a research note on Thursday, April 11th. They issued a “buy” rating and a $88.00 price target on the stock. Needham & Company LLC lifted their price target on Merit Medical Systems from $85.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity Group lowered their target price on Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Robert W. Baird initiated coverage on Merit Medical Systems in a research note on Friday. They set an “outperform” rating and a $96.00 target price on the stock. Finally, Baird R W raised Merit Medical Systems to a “strong-buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $93.90.

Insider Transactions at Merit Medical Systems

In other news, COO Neil Peterson sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the sale, the chief operating officer now directly owns 14,819 shares in the company, valued at $1,212,935.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.70% of the company’s stock.

About Merit Medical Systems

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.