MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 1,436 Shares of Merit Medical Systems, Inc. $MMSI

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,967 shares of the medical instruments supplier’s stock after buying an additional 1,436 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Merit Medical Systems worth $3,908,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MMSI. Opal Wealth Advisors LLC bought a new stake in Merit Medical Systems during the 1st quarter worth approximately $31,000. IFP Advisors Inc increased its stake in shares of Merit Medical Systems by 1,435.0% in the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 200 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Merit Medical Systems during the 1st quarter valued at $41,000. Finally, Versant Capital Management Inc boosted its holdings in Merit Medical Systems by 1,518.5% in the 1st 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 during the period. 99.66% of the stock is currently owned by institutional investors.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of Merit Medical Systems stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the completion of the transaction, the director directly owned 12,809 shares of the company’s stock, valued at $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Merit Medical Systems Trading Down 5.2%

MMSI opened at $85.53 on Friday. The firm has a market cap of $5.07 billion, a P/E ratio of 43.42, a P/E/G ratio of 3.04 and a beta of 0.64. Merit Medical Systems, Inc. has a 12 month low of $81.04 and a 12 month high of $111.45. The company has a current ratio of 4.09, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $87.85 and a 200 day moving average of $93.37.

Merit Medical Systems (NASDAQ:MMSI) last issued 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. The business had revenue of $382.46 million for the quarter, compared to the consensus estimate of $372.47 million. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, research analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Analysts Set New Price Targets

MMSI has been the subject of a number of recent analyst reports. Raymond James Financial dropped their price objective on Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Piper Sandler dropped their price target 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. Wells Fargo & Company cut their price objective on shares of 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 reissued a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a report on Friday, July 18th. Finally, Canaccord Genuity Group set a $112.00 target price on shares of Merit Medical Systems and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.