Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors trimmed its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,301 shares of the medical instruments supplier’s stock after selling 139 shares during the period. Captrust Financial Advisors’ holdings in Merit Medical Systems were worth $706,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MMSI. NewSquare Capital LLC acquired a new position in Merit Medical Systems in the fourth quarter worth about $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in Merit Medical Systems in the fourth quarter worth about $52,000. Federated Hermes Inc. grew its stake in Merit Medical Systems by 139.1% in the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after purchasing an additional 381 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Merit Medical Systems by 237.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock worth $134,000 after purchasing an additional 977 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Merit Medical Systems in the fourth quarter worth about $199,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Raul Jr. Parra sold 12,451 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the sale, the chief financial officer now owns 24,201 shares of the company’s stock, valued at $2,391,300.81. The trade was a 33.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian G. Lloyd sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the sale, the insider now directly owns 38,993 shares in the company, valued at approximately $3,879,803.50. The trade was a 39.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,132 shares of company stock valued at $11,139,521 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MMSI shares. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They issued an “overweight” rating and a $120.00 target price on the stock. Canaccord Genuity Group cut their target price on shares of Merit Medical Systems from $127.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Needham & Company LLC raised their target price on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird cut their target price on shares of Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler cut their target price on shares of Merit Medical Systems from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.67.

Merit Medical Systems Stock Performance

MMSI opened at $98.83 on Friday. The business’s 50 day moving average is $96.75 and its 200-day moving average is $100.59. The stock has a market cap of $5.84 billion, a PE ratio of 48.45, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a twelve month low of $80.02 and a twelve month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. The company had revenue of $355.35 million for the quarter, compared to analysts’ expectations of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

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.