Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC increased its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,581 shares of the medical instruments supplier’s stock after buying an additional 1,238 shares during the quarter. Townsquare Capital LLC’s holdings in Merit Medical Systems were worth $2,825,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems during the second quarter worth $29,000. DekaBank Deutsche Girozentrale acquired a new stake in Merit Medical Systems during the 1st quarter worth about $44,000. USA Financial Formulas purchased a new position in shares of Merit Medical Systems during the 3rd quarter valued at about $59,000. GAMMA Investing LLC lifted its holdings in shares of Merit Medical Systems by 142.3% in the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after buying an additional 488 shares during the period. Finally, National Bank of Canada FI purchased a new stake in shares of Merit Medical Systems in the second quarter worth about $77,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Trading Up 0.2 %

Shares of Merit Medical Systems stock opened at $103.90 on Friday. The stock has a 50 day moving average of $99.06 and a 200 day moving average of $91.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 2.57 and a beta of 0.89. Merit Medical Systems, Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $106.87.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $339.85 million during the quarter, compared to analysts’ expectations of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. As a group, research analysts predict that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the completion of the transaction, the chief financial officer now directly owns 16,361 shares in the company, valued at $1,603,705.22. This trade represents a 64.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the sale, the director now owns 32,391 shares in the company, valued at $3,289,306.05. This represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on MMSI shares. Bank of America lifted their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Robert W. Baird boosted their price target on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Barrington Research reaffirmed an “outperform” rating and set a $114.00 target price on shares of Merit Medical Systems in a research note on Thursday, October 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.36.

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.