Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737,655 shares of the medical instruments supplier’s stock after selling 10,906 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.25% of Merit Medical Systems worth $77,978,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Westwood Holdings Group Inc. boosted its position in shares of Merit Medical Systems by 12.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 687,501 shares of the medical instruments supplier’s stock worth $72,676,000 after purchasing an additional 73,866 shares in the last quarter. US Bancorp DE boosted its position in shares of Merit Medical Systems by 3.8% in the 1st quarter. US Bancorp DE now owns 3,936 shares of the medical instruments supplier’s stock worth $416,000 after purchasing an additional 145 shares in the last quarter. Harbour Investments Inc. acquired a new stake in shares of Merit Medical Systems in the 1st quarter worth $66,000. Natixis Advisors LLC boosted its position in shares of Merit Medical Systems by 3.3% in the 1st quarter. Natixis Advisors LLC now owns 74,807 shares of the medical instruments supplier’s stock worth $7,908,000 after purchasing an additional 2,372 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in Merit Medical Systems in the 1st quarter worth $41,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $86.15 on Thursday. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. Merit Medical Systems, Inc. has a twelve month low of $81.04 and a twelve month high of $111.45. The business has a 50-day moving average price of $89.80 and a 200 day moving average price of $96.17. The firm has a market cap of $5.10 billion, a PE ratio of 43.73, a P/E/G ratio of 2.77 and a beta of 0.66.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $382.46 million during the quarter, compared to analyst estimates of $372.47 million. During the same quarter in the previous year, the business earned $0.92 EPS. Merit Medical Systems’s revenue for the quarter was up 13.2% compared to the same quarter last year. Sell-side analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 15,181 shares of Merit Medical Systems stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the transaction, the chief financial officer owned 24,201 shares in the company, valued at $2,268,843.75. The trade was a 38.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynne N. Ward sold 2,433 shares of Merit Medical Systems stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $84.89, for a total value of $206,537.37. Following the completion of the transaction, the director owned 12,809 shares of the company’s stock, valued at approximately $1,087,356.01. This represents a 15.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,779 shares of company stock worth $6,327,983 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MMSI. Barrington Research restated an “outperform” rating and issued a $103.00 target price on shares of Merit Medical Systems in a research note on Thursday, July 31st. Wells Fargo & Company reduced their target price on Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Robert W. Baird reduced their target price on Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Piper Sandler reduced their target price on Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a research note on Friday, July 18th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.00.

Merit Medical Systems 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.