Rhumbline Advisers Grows Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Rhumbline Advisers boosted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,345 shares of the medical instruments supplier’s stock after acquiring an additional 8,135 shares during the quarter. Rhumbline Advisers owned about 0.29% of Merit Medical Systems worth $12,227,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MMSI. Altshuler Shaham Ltd purchased a new position in Merit Medical Systems in the fourth quarter worth $26,000. Quantbot Technologies LP purchased a new position in Merit Medical Systems in the first quarter worth $43,000. Lazard Asset Management LLC purchased a new position in Merit Medical Systems in the fourth quarter worth $45,000. Huntington National Bank increased its position in shares of Merit Medical Systems by 81,800.0% in the fourth quarter. Huntington National Bank now owns 819 shares of the medical instruments supplier’s stock valued at $58,000 after buying an additional 818 shares in the last quarter. Finally, Archer Investment Corp purchased a new position in shares of Merit Medical Systems in the first quarter valued at $60,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MMSI. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Piper Sandler raised their price target on Merit Medical Systems from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, July 21st. Canaccord Genuity Group dropped their price target on Merit Medical Systems from $86.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, August 28th. Barrington Research restated an “outperform” rating and issued a $95.00 price target on shares of Merit Medical Systems in a research report on Wednesday, August 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $96.00 price target on shares of Merit Medical Systems in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $87.83.

Merit Medical Systems Trading Up 0.0 %

Merit Medical Systems stock opened at $65.30 on Friday. The stock has a market cap of $3.76 billion, a PE ratio of 41.86, a P/E/G ratio of 1.99 and a beta of 0.96. The stock has a 50-day moving average price of $75.08 and a 200 day moving average price of $76.44. Merit Medical Systems, Inc. has a 52 week low of $52.79 and a 52 week high of $85.62. The company has a current ratio of 3.13, a quick ratio of 1.52 and a debt-to-equity ratio of 0.28.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $310.10 million. During the same period last year, the company earned $0.73 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that Merit Medical Systems, Inc. will post 2.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

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