Benjamin Edwards Inc. Buys New Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Benjamin Edwards Inc. bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,623 shares of the medical instruments supplier’s stock, valued at approximately $311,000.

A number of other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of Merit Medical Systems by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after acquiring an additional 118 shares during the period. Entropy Technologies LP raised its holdings in Merit Medical Systems by 6.5% during the first quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock worth $251,000 after buying an additional 203 shares during the last quarter. Parallel Advisors LLC raised its holdings in Merit Medical Systems by 114.6% during the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 212 shares during the last quarter. Blue Trust Inc. raised its holdings in Merit Medical Systems by 19.7% during the second quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier’s stock worth $123,000 after buying an additional 235 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Merit Medical Systems by 9.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,376 shares of the medical instruments supplier’s stock worth $290,000 after buying an additional 290 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $99.56 on Friday. The firm has a 50-day moving average of $91.73 and a 200-day moving average of $83.16. The company has a market cap of $5.79 billion, a P/E ratio of 57.22, a P/E/G ratio of 2.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. Merit Medical Systems, Inc. has a one year low of $62.58 and a one year high of $101.25.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. Equities research analysts forecast that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Barrington Research upped their price objective on shares of Merit Medical Systems from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday. Robert W. Baird assumed coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They set an “outperform” rating and a $96.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, Canaccord Genuity Group upped their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $101.82.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the transaction, the director now owns 32,391 shares in the company, valued at $2,753,235. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by insiders.

Merit Medical Systems 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.