Mutual of America Capital Management LLC Sells 796 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Mutual of America Capital Management LLC lessened its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,755 shares of the medical instruments supplier’s stock after selling 796 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Merit Medical Systems were worth $865,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp bought a new position in shares of Merit Medical Systems in the third quarter valued at approximately $718,000. Lazard Asset Management LLC raised its position in Merit Medical Systems by 1,147.3% in the 1st quarter. Lazard Asset Management LLC now owns 7,858 shares of the medical instruments supplier’s stock valued at $594,000 after purchasing an additional 7,228 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Merit Medical Systems by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock worth $63,543,000 after purchasing an additional 22,077 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Merit Medical Systems by 10.8% during the second quarter. Natixis Advisors LLC now owns 66,535 shares of the medical instruments supplier’s stock worth $5,719,000 after purchasing an additional 6,487 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Merit Medical Systems by 3.1% in the second quarter. Raymond James & Associates now owns 129,024 shares of the medical instruments supplier’s stock valued at $11,090,000 after buying an additional 3,933 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $104.00 on Wednesday. Merit Medical Systems, Inc. has a 52-week low of $65.46 and a 52-week high of $106.87. The business’s fifty day moving average is $98.81 and its 200 day moving average is $91.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 50.98, a PEG ratio of 2.62 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $339.85 million during the quarter, compared to analyst estimates of $334.60 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Merit Medical Systems’s revenue was up 7.8% on a year-over-year basis. Research analysts predict that Merit Medical Systems, Inc. will post 3.36 EPS for the current year.

Insider Buying and Selling

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the completion of the transaction, the chief financial officer now directly owns 16,361 shares in the company, valued at approximately $1,603,705.22. This represents a 64.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares in the company, valued at $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MMSI. Robert W. Baird increased their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Barrington Research restated an “outperform” rating and set a $114.00 target price on shares of Merit Medical Systems in a research report on Thursday, October 31st. StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Finally, Bank of America raised their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.36.

About Merit Medical Systems

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.