Choreo LLC Buys Shares of 3,374 Merit Medical Systems, Inc. (NASDAQ:MMSI)

Choreo LLC purchased a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,374 shares of the medical instruments supplier’s stock, valued at approximately $289,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Merit Medical Systems by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,306,702 shares of the medical instruments supplier’s stock worth $99,258,000 after purchasing an additional 41,065 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Merit Medical Systems by 17.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,684 shares of the medical instruments supplier’s stock worth $280,000 after buying an additional 552 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Merit Medical Systems by 60.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,126 shares of the medical instruments supplier’s stock valued at $161,000 after acquiring an additional 803 shares during the last quarter. Norges Bank purchased a new stake in Merit Medical Systems during the 4th quarter valued at about $38,165,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Merit Medical Systems during the 4th quarter valued at about $334,000. Institutional investors own 99.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on MMSI shares. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price objective on shares of Merit Medical Systems in a research note on Monday. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Robert W. Baird started coverage on Merit Medical Systems in a report on Friday, June 28th. They set an “outperform” rating and a $96.00 price target on the stock. Finally, Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Merit Medical Systems in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average price target of $100.55.

Insider Transactions at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the transaction, the director now owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $98.71 on Thursday. The stock has a market capitalization of $5.74 billion, a PE ratio of 56.73, a P/E/G ratio of 2.53 and a beta of 0.87. Merit Medical Systems, Inc. has a 1-year low of $62.58 and a 1-year high of $100.32. The business has a 50 day simple moving average of $91.20 and a two-hundred day simple moving average of $82.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. On average, research analysts predict that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

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.