Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,766 shares of the medical instruments supplier’s stock after selling 757 shares during the period. Jennison Associates LLC’s holdings in Merit Medical Systems were worth $1,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valued Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter valued at $29,000. Tompkins Financial Corp purchased a new stake in Merit Medical Systems during the 4th quarter worth $38,000. Headlands Technologies LLC purchased a new stake in Merit Medical Systems during the 3rd quarter worth $41,000. DekaBank Deutsche Girozentrale purchased a new stake in Merit Medical Systems during the 3rd quarter worth $67,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Merit Medical Systems during the 4th quarter worth $206,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $73.78 on Friday. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. Merit Medical Systems, Inc. has a fifty-two week low of $62.58 and a fifty-two week high of $85.62. The firm has a 50-day simple moving average of $74.52 and a 200 day simple moving average of $73.76. The company has a market cap of $4.28 billion, a PE ratio of 45.54, a P/E/G ratio of 2.06 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The business had revenue of $324.52 million during the quarter, compared to the consensus estimate of $320.66 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. CL King assumed coverage on shares of Merit Medical Systems in a research note on Thursday, April 11th. They set a “buy” rating and a $88.00 price target on the stock. Piper Sandler lifted their price target on shares of Merit Medical Systems from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $88.00 price target on shares of Merit Medical Systems in a research note on Thursday, April 11th. Barrington Research reissued an “outperform” rating and issued a $98.00 target price on shares of Merit Medical Systems in a research report on Tuesday, April 16th. Finally, Bank of America initiated coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $93.78.

Insider Activity at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 6,480 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now owns 12,007 shares of the company’s stock, valued at approximately $887,917.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Merit Medical Systems news, insider Joseph Wright sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the completion of the transaction, the insider now directly owns 42,223 shares of the company’s stock, valued at approximately $3,195,436.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Raul Jr. Parra sold 6,480 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at $887,917.65. The disclosure for this sale can be found here. Insiders sold a total of 49,637 shares of company stock valued at $3,751,673 in the last quarter. Insiders own 3.70% of the company’s stock.

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.