Silver Oak Securities Incorporated Buys 1,877 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Silver Oak Securities Incorporated lifted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 53.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,358 shares of the medical instruments supplier’s stock after purchasing an additional 1,877 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Merit Medical Systems were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in Merit Medical Systems by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 16,370 shares of the medical instruments supplier’s stock worth $1,130,000 after acquiring an additional 236 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in Merit Medical Systems by 0.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 28,869 shares of the medical instruments supplier’s stock worth $1,993,000 after acquiring an additional 270 shares during the last quarter. Advisor Partners II LLC grew its holdings in Merit Medical Systems by 7.9% during the 3rd quarter. Advisor Partners II LLC now owns 3,704 shares of the medical instruments supplier’s stock worth $256,000 after acquiring an additional 271 shares during the last quarter. Diversified Trust Co grew its holdings in Merit Medical Systems by 3.0% during the 3rd quarter. Diversified Trust Co now owns 10,150 shares of the medical instruments supplier’s stock worth $701,000 after acquiring an additional 292 shares during the last quarter. Finally, Renaissance Group LLC lifted its position in shares of Merit Medical Systems by 1.3% in the 3rd quarter. Renaissance Group LLC now owns 24,406 shares of the medical instruments supplier’s stock worth $1,685,000 after purchasing an additional 310 shares during the period. 99.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, insider Joseph Wright sold 25,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the completion of the sale, the insider now owns 42,223 shares in the company, valued at approximately $3,195,436.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Thomas James Gunderson sold 18,157 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the completion of the sale, the director now owns 19,257 shares in the company, valued at approximately $1,464,109.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Wright sold 25,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $75.68, for a total transaction of $1,892,000.00. Following the completion of the sale, the insider now owns 42,223 shares of the company’s stock, valued at approximately $3,195,436.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,637 shares of company stock worth $3,751,673. 3.70% of the stock is owned by corporate insiders.

Merit Medical Systems Stock Down 1.3 %

Merit Medical Systems stock opened at $74.10 on Wednesday. The company has a market capitalization of $4.30 billion, a PE ratio of 45.74, a PEG ratio of 2.09 and a beta of 0.89. The firm’s fifty day moving average is $74.31 and its 200 day moving average is $73.97. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68. Merit Medical Systems, Inc. has a 12-month low of $62.58 and a 12-month high of $85.62.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. The business had revenue of $324.52 million during the quarter, compared to analyst estimates of $320.66 million. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. Merit Medical Systems’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, sell-side analysts predict that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MMSI has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Piper Sandler boosted their price target on shares of Merit Medical Systems from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Barrington Research restated an “outperform” rating and issued a $98.00 price target on shares of Merit Medical Systems in a research report on Tuesday, April 16th. Raymond James boosted their price target on shares of Merit Medical Systems from $84.00 to $89.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, Bank of America began coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and a consensus price target of $93.78.

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.