LPL Financial LLC Purchases 8,151 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

LPL Financial LLC grew its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 14.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,743 shares of the medical instruments supplier’s stock after acquiring an additional 8,151 shares during the quarter. LPL Financial LLC owned about 0.11% of Merit Medical Systems worth $6,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in Merit Medical Systems during the first quarter worth $31,000. IFP Advisors Inc grew its holdings in Merit Medical Systems by 1,435.0% during the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock worth $32,000 after buying an additional 287 shares in the last quarter. Versant Capital Management Inc grew its holdings in Merit Medical Systems by 1,518.5% during the first quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier’s stock worth $46,000 after buying an additional 410 shares in the last quarter. Federated Hermes Inc. grew its holdings in Merit Medical Systems by 139.1% during the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after buying an additional 381 shares in the last quarter. Finally, Group One Trading LLC bought a new stake in Merit Medical Systems during the fourth quarter worth $77,000. Institutional investors own 99.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director F. Ann Millner sold 21,250 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $96.47, for a total value of $2,049,987.50. Following the sale, the director directly owned 34,543 shares in the company, valued at approximately $3,332,363.21. The trade was a 38.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Raul Jr. Parra sold 15,181 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the sale, the chief financial officer owned 24,201 shares in the company, valued at $2,268,843.75. This represents a 38.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,596 shares of company stock worth $8,171,433 in the last ninety days. 3.70% of the stock is owned by corporate insiders.

Merit Medical Systems Trading Down 1.8%

Shares of MMSI opened at $84.04 on Tuesday. Merit Medical Systems, Inc. has a fifty-two week low of $81.04 and a fifty-two week high of $111.45. The business has a 50-day moving average of $90.16 and a 200 day moving average of $96.32. The firm has a market cap of $4.98 billion, a P/E ratio of 42.66, a price-to-earnings-growth ratio of 2.80 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%. The business had revenue of $382.46 million for the quarter, compared to analysts’ expectations of $372.47 million. During the same period in the previous year, the business posted $0.92 EPS. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, research analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MMSI shares. Wells Fargo & Company decreased their price target on Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Friday, July 18th. Piper Sandler decreased their price target on Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Barrington Research reissued an “outperform” rating and issued a $103.00 price objective on shares of Merit Medical Systems in a research report on Thursday, July 31st. Finally, Canaccord Genuity Group set a $112.00 price objective on Merit Medical Systems and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.00.

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.