Merit Medical Systems, Inc. $MMSI Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC decreased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 33.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,297 shares of the medical instruments supplier’s stock after selling 662 shares during the period. GAMMA Investing LLC’s holdings in Merit Medical Systems were worth $121,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Merit Medical Systems during the 1st quarter valued at about $31,000. IFP Advisors Inc increased its stake in Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock valued at $32,000 after buying an additional 287 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Merit Medical Systems by 55.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after buying an additional 134 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in 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 buying an additional 200 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in Merit Medical Systems during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the completion of the sale, the director owned 12,809 shares in the company, valued at $1,134,365.04. This represents a 18.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by insiders.

Merit Medical Systems Stock Up 2.9%

Merit Medical Systems stock opened at $83.23 on Wednesday. Merit Medical Systems, Inc. has a twelve month low of $79.10 and a twelve month high of $111.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. The firm has a market cap of $4.93 billion, a PE ratio of 42.25, a P/E/G ratio of 2.72 and a beta of 0.64. The firm’s 50 day moving average price is $86.11 and its two-hundred day moving average price is $91.85.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MMSI shares. Barrington Research reissued an “outperform” rating and set a $103.00 target price on shares of Merit Medical Systems in a research note on Tuesday, September 23rd. Wells Fargo & Company dropped their target price on shares of Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Raymond James Financial dropped 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 report on Thursday, July 31st. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 target price on shares of Merit Medical Systems in a report on Friday, July 18th. Finally, Piper Sandler dropped their target price on shares of Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $107.50.

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.