Verition Fund Management LLC Invests $1.50 Million in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Verition Fund Management LLC bought a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,145 shares of the medical instruments supplier’s stock, valued at approximately $1,497,000.

A number of other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp bought a new position in Merit Medical Systems during the third quarter worth about $718,000. Fisher Asset Management LLC raised its holdings in Merit Medical Systems by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock valued at $21,910,000 after acquiring an additional 6,837 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Merit Medical Systems by 10.8% in the second quarter. Natixis Advisors LLC now owns 66,535 shares of the medical instruments supplier’s stock worth $5,719,000 after acquiring an additional 6,487 shares during the period. Raymond James & Associates grew its position in shares of Merit Medical Systems by 3.1% in the second quarter. Raymond James & Associates now owns 129,024 shares of the medical instruments supplier’s stock valued at $11,090,000 after purchasing an additional 3,933 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake 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 purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insider Activity

In related news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,289,306.05. This represents a 27.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Merit Medical Systems Trading Down 0.3 %

Shares of MMSI stock opened at $104.40 on Friday. Merit Medical Systems, Inc. has a fifty-two week low of $67.81 and a fifty-two week high of $106.87. 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 stock’s fifty day moving average is $99.69 and its two-hundred day moving average is $92.43. The firm has a market capitalization of $6.08 billion, a P/E ratio of 51.18, a PEG ratio of 2.60 and a beta of 0.84.

Merit Medical Systems (NASDAQ:MMSI) last posted 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. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The firm had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. During the same period in the previous year, the business posted $0.75 earnings per share. Merit Medical Systems’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts expect that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

MMSI has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. 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 research report on Monday, September 9th. Robert W. Baird upped their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Barrington Research reissued an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Finally, Wells Fargo & Company lifted 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 report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.