2,555 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Bought by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. acquired a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,555 shares of the medical instruments supplier’s stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MMSI. Tidal Investments LLC lifted its stake in shares of Merit Medical Systems by 1.0% in the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier’s stock worth $1,028,000 after acquiring an additional 104 shares during the period. American Century Companies Inc. lifted its position in shares of Merit Medical Systems by 2.9% in the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after acquiring an additional 118 shares in the last quarter. Xponance Inc. boosted its stake in shares of Merit Medical Systems by 4.9% during the 2nd quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after purchasing an additional 170 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Merit Medical Systems by 0.6% during the third quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock worth $2,830,000 after acquiring an additional 170 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Merit Medical Systems by 2.6% during the third quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock worth $735,000 after purchasing an additional 187 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on MMSI. Raymond James boosted their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a report on Tuesday, January 14th. 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 raised their price target on Merit Medical Systems from $110.00 to $114.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Company upgraded shares of Merit Medical Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $103.00 to $120.00 in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and a consensus price target of $108.10.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI opened at $104.73 on Thursday. The business’s 50-day simple moving average is $100.98 and its 200-day simple moving average is $96.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $108.07. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 51.34, a P/E/G ratio of 2.34 and a beta of 0.85.

Merit Medical Systems (NASDAQ:MMSI) last released 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. The company had revenue of $339.85 million for 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, equities research analysts expect that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Insider Activity at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 29,646 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. This represents a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction dated 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 directly owns 32,391 shares in the company, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

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.