18,048 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Purchased by Riverwater Partners LLC

Riverwater Partners LLC acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 18,048 shares of the medical instruments supplier’s stock, valued at approximately $1,744,000.

A number of other large investors also recently added to or reduced their stakes in the business. William Blair Investment Management LLC raised its stake in shares of Merit Medical Systems by 0.3% during the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock worth $262,445,000 after buying an additional 10,512 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in Merit Medical Systems by 3.5% in the second quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock valued at $193,419,000 after acquiring an additional 75,885 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in Merit Medical Systems by 17.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after acquiring an additional 131,977 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Merit Medical Systems by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock valued at $63,543,000 after acquiring an additional 22,077 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Merit Medical Systems by 147.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after purchasing an additional 377,851 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $95.35 on Thursday. The firm has a market cap of $5.54 billion, a P/E ratio of 54.80, a PEG ratio of 2.41 and a beta of 0.87. Merit Medical Systems, Inc. has a twelve month low of $63.13 and a twelve month high of $101.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. The firm’s 50 day moving average price is $95.90 and its two-hundred day moving average price is $86.83.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. On average, analysts forecast that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MMSI shares. Canaccord Genuity Group lifted their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Piper Sandler restated an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird assumed coverage on Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 price target for the company. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Bank of America boosted their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.82.

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.