Merit Medical Systems, Inc. (NASDAQ:MMSI) Stake Reduced by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lessened its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 12.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,455,478 shares of the medical instruments supplier’s stock after selling 216,014 shares during the period. Merit Medical Systems makes up 1.8% of ArrowMark Colorado Holdings LLC’s portfolio, making the stock its 13th biggest position. ArrowMark Colorado Holdings LLC owned approximately 2.50% of Merit Medical Systems worth $143,845,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Merit Medical Systems by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock worth $362,000 after buying an additional 118 shares in the last quarter. Xponance Inc. lifted its position in Merit Medical Systems by 4.9% in the second 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 period. Glenmede Trust Co. NA boosted its stake in Merit Medical Systems by 0.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock valued at $2,830,000 after purchasing an additional 170 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock valued at $735,000 after purchasing an additional 187 shares during the period. Finally, Hancock Whitney Corp raised its stake in shares of Merit Medical Systems by 2.7% in the 3rd quarter. Hancock Whitney Corp now owns 8,122 shares of the medical instruments supplier’s stock worth $803,000 after buying an additional 214 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the company’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 value of $2,905,900.92. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $103.90 on Monday. The stock has a fifty day moving average price of $99.06 and a two-hundred day moving average price of $91.78. 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 52-week low of $65.46 and a 52-week high of $106.87. The firm has a market capitalization of $6.06 billion, a P/E ratio of 50.93, a P/E/G ratio of 2.58 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last announced 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 business had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. Merit Medical Systems’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. As a group, analysts anticipate that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MMSI shares. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Piper Sandler reiterated an “overweight” rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Bank of America lifted their target price on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Robert W. Baird increased their price target on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Three equities research 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.36.

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.