Mutual of America Capital Management LLC raised its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) by 5.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,322 shares of the medical instruments supplier’s stock after purchasing an additional 380 shares during the period. Mutual of America Capital Management LLC’s holdings in Merit Medical Systems were worth $487,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hardy Reed LLC purchased a new position in Merit Medical Systems in the first quarter valued at approximately $155,000. Point72 Hong Kong Ltd raised its holdings in Merit Medical Systems by 629.8% during the 4th quarter. Point72 Hong Kong Ltd now owns 3,138 shares of the medical instruments supplier’s stock valued at $195,000 after acquiring an additional 2,708 shares during the period. MQS Management LLC bought a new stake in Merit Medical Systems during the 4th quarter valued at $216,000. Inspire Investing LLC bought a new stake in Merit Medical Systems during the 1st quarter valued at $235,000. Finally, Lindenwold Advisors bought a new stake in Merit Medical Systems during the 4th quarter valued at $227,000. Hedge funds and other institutional investors own 95.25% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Barrington Research lowered their target price on shares of Merit Medical Systems from $82.00 to $78.00 in a report on Thursday, April 28th. Piper Sandler lowered their target price on shares of Merit Medical Systems from $75.00 to $70.00 in a report on Friday, July 1st. StockNews.com raised shares of Merit Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 13th. TheStreet cut shares of Merit Medical Systems from a “b-” rating to a “c+” rating in a report on Wednesday, May 11th. Finally, Raymond James reaffirmed a “maintains” rating on shares of Merit Medical Systems in a report on Thursday. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $73.40.
Merit Medical Systems Stock Down 0.0 %
Merit Medical Systems (NASDAQ:MMSI – Get Rating) last released its earnings results on Wednesday, July 27th. The medical instruments supplier reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.15. The business had revenue of $294.98 million for the quarter, compared to analysts’ expectations of $280.55 million. Merit Medical Systems had a return on equity of 13.33% and a net margin of 4.36%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share. As a group, research analysts expect that Merit Medical Systems, Inc. will post 2.5 earnings per share for the current fiscal year.
Insider Activity at Merit Medical Systems
In related news, Director F. Ann Millner sold 6,378 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $61.92, for a total value of $394,925.76. Following the transaction, the director now owns 27,698 shares of the company’s stock, valued at $1,715,060.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is owned by insiders.
Merit Medical Systems Company Profile
Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.
- Get a free copy of the StockNews.com research report on Merit Medical Systems (MMSI)
- Use These To Find Your Stock’s Support and Resistance Levels
- Is Boeing Stock is Ready for Lift-Off ?
- Elon Musk is Out, But Should You Be In Twitter Stock?
- 3 Earnings Announcements That Could Surprise
- Twitter’s Up For Third Week In A Row: What’s Next For The Stock?
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Merit Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merit Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.