Central Pacific Bank Trust Division Has $166,000 Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Central Pacific Bank Trust Division reduced its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 25.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,680 shares of the medical instruments supplier’s stock after selling 570 shares during the period. Central Pacific Bank Trust Division’s holdings in Merit Medical Systems were worth $166,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems during the second quarter worth $29,000. Parallel Advisors LLC grew its stake in shares of 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. DekaBank Deutsche Girozentrale bought a new stake in shares of Merit Medical Systems during the first quarter worth $44,000. Headlands Technologies LLC bought a new stake in shares of Merit Medical Systems during the first quarter worth $50,000. Finally, EntryPoint Capital LLC grew its stake in shares of Merit Medical Systems by 2,666.7% during the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 880 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Baird R W raised shares of Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. Wells Fargo & Company boosted 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 research note on Monday, September 16th. Robert W. Baird started coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, Barrington Research boosted their price objective on shares of Merit Medical Systems from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.82.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $95.63 on Friday. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $5.56 billion, a P/E ratio of 54.96, a price-to-earnings-growth ratio of 2.52 and a beta of 0.87. The firm’s fifty day simple moving average is $94.08 and its two-hundred day simple moving average is $84.76. Merit Medical Systems, Inc. has a 12 month low of $62.58 and a 12 month high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business had revenue of $338.00 million for the quarter, compared to analysts’ expectations of $334.94 million. As a group, analysts predict that Merit Medical Systems, Inc. will post 3.31 EPS 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.