Stifel Financial Corp Acquires 4,806 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Stifel Financial Corp raised its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 20.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,050 shares of the medical instruments supplier’s stock after acquiring an additional 4,806 shares during the quarter. Stifel Financial Corp’s holdings in Merit Medical Systems were worth $2,772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. purchased a new position in Merit Medical Systems during the 2nd quarter worth $337,000. Blue Trust Inc. raised its position in Merit Medical Systems by 19.7% during the 2nd 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. Raymond James & Associates raised its position in Merit Medical Systems by 3.1% during the 2nd quarter. Raymond James & Associates now owns 129,024 shares of the medical instruments supplier’s stock worth $11,090,000 after buying an additional 3,933 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Merit Medical Systems by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 29,200 shares of the medical instruments supplier’s stock valued at $2,510,000 after acquiring an additional 600 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Merit Medical Systems by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 514,541 shares of the medical instruments supplier’s stock valued at $44,225,000 after acquiring an additional 9,358 shares during the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Merit Medical Systems

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

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $97.13 on Thursday. Merit Medical Systems, Inc. has a one year low of $70.31 and a one year high of $108.07. 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’s 50 day moving average price is $100.62 and its 200-day moving average price is $93.66. The firm has a market cap of $5.66 billion, a P/E ratio of 47.61, a P/E/G ratio of 2.62 and a beta of 0.84.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. 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. Canaccord Genuity Group upped their price objective on Merit Medical Systems from $125.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Robert W. Baird upped their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.09.

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.