MassMutual Private Wealth & Trust FSB Purchases 134 Shares of Merit Medical Systems, Inc. $MMSI

MassMutual Private Wealth & Trust FSB lifted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 55.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 375 shares of the medical instruments supplier’s stock after acquiring an additional 134 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Merit Medical Systems were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its holdings in Merit Medical Systems by 8.7% in the 4th quarter. Cetera Investment Advisers now owns 10,093 shares of the medical instruments supplier’s stock valued at $976,000 after purchasing an additional 804 shares in the last quarter. Group One Trading LLC purchased a new position in shares of Merit Medical Systems in the 4th quarter worth about $77,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Merit Medical Systems by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,344 shares of the medical instruments supplier’s stock valued at $15,992,000 after buying an additional 24,528 shares during the period. Peak Retirement Planning Inc. acquired a new position in shares of Merit Medical Systems in the 4th quarter worth approximately $875,000. Finally, Wellington Management Group LLP bought a new stake in Merit Medical Systems during the 4th quarter valued at $21,824,000. 99.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Lynne N. Ward sold 3,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following the sale, the director directly owned 12,809 shares in the company, valued at approximately $1,134,365.04. The trade was a 18.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on MMSI shares. Wells Fargo & Company cut 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 reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research report on Friday, July 18th. Raymond James Financial cut their target price on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Barrington Research reaffirmed an “outperform” rating and set a $103.00 price target on shares of Merit Medical Systems in a research note on Thursday, July 31st. Finally, Piper Sandler lowered their price target on shares of Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $107.50.

Merit Medical Systems Stock Down 0.6%

Shares of NASDAQ MMSI opened at $83.56 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66. Merit Medical Systems, Inc. has a 12-month low of $81.04 and a 12-month high of $111.45. The firm’s 50-day moving average is $86.75 and its two-hundred day moving average is $92.67. The company has a market capitalization of $4.95 billion, a PE ratio of 42.42, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64.

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