F M Investments LLC Has $12.36 Million Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

F M Investments LLC trimmed its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 14.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,043 shares of the medical instruments supplier’s stock after selling 20,971 shares during the quarter. F M Investments LLC’s holdings in Merit Medical Systems were worth $12,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in Merit Medical Systems by 32.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after buying an additional 260 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Merit Medical Systems by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock valued at $226,236,000 after purchasing an additional 38,780 shares during the period. Congress Asset Management Co. boosted its holdings in Merit Medical Systems by 2.7% in the 3rd quarter. Congress Asset Management Co. now owns 589,976 shares of the medical instruments supplier’s stock valued at $58,307,000 after purchasing an additional 15,534 shares during the period. Smith Group Asset Management LLC acquired a new stake in Merit Medical Systems in the 3rd quarter worth $550,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Merit Medical Systems in the third quarter valued at about $325,000. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Shares of MMSI traded up $0.14 on Friday, hitting $98.80. The company’s stock had a trading volume of 392,724 shares, compared to its average volume of 437,975. The company has a 50 day moving average price of $96.60 and a 200 day moving average price of $87.89. Merit Medical Systems, Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $101.60. The company has a market capitalization of $5.75 billion, a PE ratio of 48.43, a PEG ratio of 2.39 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $339.85 million during the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a return on equity of 15.86% and a net margin of 9.05%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 3.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on MMSI shares. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Bank of America lifted their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Robert W. Baird raised their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Finally, Barrington Research restated an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.36.

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.