Marco Investment Management LLC Takes $247,000 Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Marco Investment Management LLC acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,500 shares of the medical instruments supplier’s stock, valued at approximately $247,000.

Other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems during the 2nd quarter worth $29,000. DekaBank Deutsche Girozentrale bought a new position in Merit Medical Systems in the 1st quarter worth $44,000. USA Financial Formulas purchased a new position in Merit Medical Systems during the third quarter valued at $59,000. GAMMA Investing LLC grew its holdings in Merit Medical Systems by 142.3% during the second 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 purchased a new stake in Merit Medical Systems in the second quarter worth about $77,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MMSI shares. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird lifted their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Bank of America raised their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $114.00 target price 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and an average price target of $103.36.

Merit Medical Systems Trading Up 0.3 %

Shares of Merit Medical Systems stock opened at $105.33 on Monday. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 51.63, a PEG ratio of 2.62 and a beta of 0.89. Merit Medical Systems, Inc. has a twelve month low of $65.46 and a twelve month high of $106.87. The business has a 50-day moving average price of $98.59 and a 200-day moving average price of $90.99.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. Equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Insider Activity at Merit Medical Systems

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

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.