LPL Financial LLC Acquires 1,013 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

LPL Financial LLC grew its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,598 shares of the medical instruments supplier’s stock after buying an additional 1,013 shares during the quarter. LPL Financial LLC’s holdings in Merit Medical Systems were worth $1,944,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Merit Medical Systems by 26.1% in the first quarter. JPMorgan Chase & Co. now owns 136,214 shares of the medical instruments supplier’s stock worth $9,061,000 after purchasing an additional 28,233 shares in the last quarter. American Century Companies Inc. grew its stake in Merit Medical Systems by 17.9% in the first quarter. American Century Companies Inc. now owns 9,016 shares of the medical instruments supplier’s stock worth $600,000 after purchasing an additional 1,369 shares in the last quarter. Citigroup Inc. grew its stake in Merit Medical Systems by 8.1% in the first quarter. Citigroup Inc. now owns 49,073 shares of the medical instruments supplier’s stock worth $3,265,000 after purchasing an additional 3,685 shares in the last quarter. MetLife Investment Management LLC grew its stake in Merit Medical Systems by 55.0% in the first quarter. MetLife Investment Management LLC now owns 28,593 shares of the medical instruments supplier’s stock worth $1,902,000 after purchasing an additional 10,143 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Merit Medical Systems by 4.3% in the first quarter. Rhumbline Advisers now owns 132,266 shares of the medical instruments supplier’s stock worth $8,798,000 after purchasing an additional 5,501 shares in the last quarter. Institutional investors own 95.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company upped their target price on Merit Medical Systems from $74.00 to $81.00 in a report on Thursday, April 27th. Needham & Company LLC upped their target price on Merit Medical Systems from $84.00 to $90.00 in a report on Thursday, April 27th. StockNews.com assumed coverage on Merit Medical Systems in a report on Thursday, May 18th. They set a “buy” rating for the company. Piper Sandler upped their target price on Merit Medical Systems from $77.00 to $85.00 in a report on Thursday, April 27th. Finally, Barrington Research upped their target price on Merit Medical Systems from $78.00 to $90.00 in a report on Thursday, April 27th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $83.43.

Insiders Place Their Bets

In other Merit Medical Systems news, Director A Scott Anderson sold 15,000 shares of Merit Medical Systems stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $66.74, for a total transaction of $1,001,100.00. Following the completion of the sale, the director now owns 47,135 shares of the company’s stock, valued at approximately $3,145,789.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Merit Medical Systems news, Director A Scott Anderson sold 15,000 shares of Merit Medical Systems stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $66.74, for a total transaction of $1,001,100.00. Following the completion of the transaction, the director now owns 47,135 shares in the company, valued at approximately $3,145,789.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Fred P. Lampropoulos sold 1,483 shares of Merit Medical Systems stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $70.17, for a total value of $104,062.11. Following the transaction, the chief executive officer now owns 1,012,069 shares of the company’s stock, valued at approximately $71,016,881.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,068 shares of company stock valued at $4,341,157. 3.70% of the stock is owned by company insiders.

Merit Medical Systems Stock Down 4.5 %

Merit Medical Systems stock opened at $80.66 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.58 and a quick ratio of 1.24. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 54.50, a PEG ratio of 2.66 and a beta of 1.00. Merit Medical Systems, Inc. has a 1-year low of $50.46 and a 1-year high of $85.39. The business has a fifty day moving average price of $77.59 and a 200-day moving average price of $72.86.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The medical instruments supplier reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Merit Medical Systems had a return on equity of 14.55% and a net margin of 7.22%. The company had revenue of $297.57 million during the quarter, compared to analysts’ expectations of $280.47 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts forecast that Merit Medical Systems, Inc. will post 2.89 EPS for the current fiscal year.

Merit Medical Systems Company Profile

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Merit Medical Systems, Inc engages in the manufacture and marketing of proprietary disposable medical devices. It operates through the Cardiovascular and Endoscopy segments. The Cardiovascular segment consists of peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care product groups.