Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Martin & Co. Inc. TN

Martin & Co. Inc. TN lowered its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,485 shares of the medical instruments supplier’s stock after selling 1,498 shares during the period. Martin & Co. Inc. TN owned about 0.08% of Merit Medical Systems worth $3,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MMSI. Altshuler Shaham Ltd acquired a new stake in shares of Merit Medical Systems during the 4th quarter worth about $26,000. Belpointe Asset Management LLC raised its position in shares of Merit Medical Systems by 53.8% during the 1st quarter. Belpointe Asset Management LLC now owns 500 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 175 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Merit Medical Systems during the 1st quarter worth about $43,000. Lazard Asset Management LLC acquired a new stake in shares of Merit Medical Systems during the 4th quarter worth about $45,000. Finally, Archer Investment Corp acquired a new stake in shares of Merit Medical Systems during the 1st quarter worth about $60,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

Merit Medical Systems Stock Performance

MMSI traded up $0.16 during trading on Monday, hitting $71.53. 12,874 shares of the stock were exchanged, compared to its average volume of 297,135. The stock has a fifty day moving average price of $68.05 and a two-hundred day moving average price of $74.36. Merit Medical Systems, Inc. has a 1-year low of $62.58 and a 1-year high of $85.62. The firm has a market capitalization of $4.13 billion, a P/E ratio of 41.25, a PEG ratio of 2.10 and a beta of 0.93. The company has a quick ratio of 1.50, a current ratio of 3.13 and a debt-to-equity ratio of 0.23.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, October 26th. The medical instruments supplier reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. Merit Medical Systems had a return on equity of 14.71% and a net margin of 8.17%. The company had revenue of $315.23 million for the quarter, compared to the consensus estimate of $306.25 million. As a group, sell-side analysts predict that Merit Medical Systems, Inc. will post 2.96 earnings per share for the current year.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 8,000 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $67.91, for a total value of $543,280.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MMSI. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Barrington Research raised their target price on Merit Medical Systems from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Canaccord Genuity Group cut their price target on Merit Medical Systems from $86.00 to $70.00 and set a “hold” rating on the stock in a research report on Monday, August 28th. Finally, Needham & Company LLC cut their price target on Merit Medical Systems from $96.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.50.

About Merit Medical Systems

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. It operates in two segments, Cardiovascular and Endoscopy. The company provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; 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.