ProShare Advisors LLC Reduces Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

ProShare Advisors LLC decreased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 23.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,779 shares of the medical instruments supplier’s stock after selling 2,705 shares during the period. ProShare Advisors LLC’s holdings in Merit Medical Systems were worth $755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new position in Merit Medical Systems in the 2nd quarter worth about $112,000. Benjamin Edwards Inc. bought a new position in Merit Medical Systems in the 2nd quarter worth about $311,000. Intech Investment Management LLC purchased a new position in shares of Merit Medical Systems during the second quarter worth approximately $719,000. Mercer Global Advisors Inc. ADV raised its stake in shares of Merit Medical Systems by 9.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,376 shares of the medical instruments supplier’s stock valued at $290,000 after acquiring an additional 290 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Merit Medical Systems by 35.7% in the second quarter. Envestnet Asset Management Inc. now owns 229,073 shares of the medical instruments supplier’s stock valued at $19,689,000 after purchasing an additional 60,261 shares during the period. 99.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MMSI has been the topic of several research reports. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Baird R W upgraded shares of Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Wells Fargo & Company increased their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 18th. Finally, Bank of America increased their target price on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Three equities 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, the stock has an average rating of “Moderate Buy” and an average price target of $101.82.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $97.68 on Friday. The company has a 50 day moving average price of $92.98 and a 200 day moving average price of $83.92. The firm has a market capitalization of $5.68 billion, a P/E ratio of 56.14, a PEG ratio of 2.52 and a beta of 0.87. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. Merit Medical Systems, Inc. has a 52 week low of $62.58 and a 52 week high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. Sell-side analysts expect that Merit Medical Systems, Inc. will post 3.31 EPS for the current year.

About Merit Medical Systems

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.