Cerity Partners LLC Invests $1.08 Million in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Cerity Partners LLC purchased a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 327 shares of the medical instruments supplier’s stock, valued at approximately $1,082,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Merit Medical Systems in the 4th quarter worth about $37,702,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Merit Medical Systems by 68.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,247,657 shares of the medical instruments supplier’s stock valued at $88,110,000 after acquiring an additional 508,234 shares in the last quarter. Morgan Stanley increased its position in shares of Merit Medical Systems by 108.7% during the fourth quarter. Morgan Stanley now owns 875,581 shares of the medical instruments supplier’s stock valued at $61,834,000 after acquiring an additional 456,031 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Merit Medical Systems by 6.0% during the third quarter. Vanguard Group Inc. now owns 6,700,655 shares of the medical instruments supplier’s stock valued at $378,653,000 after acquiring an additional 377,858 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Merit Medical Systems by 621.9% during the first quarter. Envestnet Asset Management Inc. now owns 397,116 shares of the medical instruments supplier’s stock valued at $3,685,000 after acquiring an additional 342,104 shares in the last quarter. 93.16% of the stock is owned by institutional investors.

Insider Activity at Merit Medical Systems

In related news, Director A Scott Anderson sold 22,180 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $69.40, for a total value of $1,539,292.00. Following the completion of the transaction, the director now directly owns 49,217 shares of the company’s stock, valued at $3,415,659.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director A Scott Anderson sold 22,180 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $69.40, for a total value of $1,539,292.00. Following the completion of the transaction, the director now owns 49,217 shares of the company’s stock, valued at approximately $3,415,659.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Neil Peterson sold 8,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $67.91, for a total transaction of $543,280.00. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MMSI has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $96.00 price objective on shares of Merit Medical Systems in a research report on Wednesday, July 26th. Raymond James raised their target price on shares of Merit Medical Systems from $88.00 to $93.00 in a report on Monday, May 8th. Canaccord Genuity Group dropped their price target on Merit Medical Systems from $86.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday, August 28th. Barrington Research reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Merit Medical Systems in a report on Wednesday, August 16th. Finally, Piper Sandler lifted their price objective on Merit Medical Systems from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, July 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.83.

Merit Medical Systems Stock Up 0.0 %

MMSI opened at $65.30 on Friday. Merit Medical Systems, Inc. has a 52 week low of $52.79 and a 52 week high of $85.62. The company has a quick ratio of 1.52, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $75.08 and a two-hundred day simple moving average of $76.44. The company has a market capitalization of $3.76 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Tuesday, July 25th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. Merit Medical Systems had a return on equity of 14.60% and a net margin of 7.48%. The firm had revenue of $320.06 million for the quarter, compared to analysts’ expectations of $310.10 million. During the same period in the previous year, the firm posted $0.73 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Analysts forecast that Merit Medical Systems, Inc. will post 2.88 earnings per share for the current fiscal year.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. It operates in two segments, Cardiovascular and Endoscopy. The company provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; 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.