Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Purchased by Diversified Trust Co

Diversified Trust Co boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,576 shares of the medical instruments supplier’s stock after purchasing an additional 328 shares during the quarter. Diversified Trust Co’s holdings in Merit Medical Systems were worth $1,144,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Congress Asset Management Co. MA acquired a new stake in shares of Merit Medical Systems in the 4th quarter worth $873,000. Nomura Holdings Inc. acquired a new stake in shares of Merit Medical Systems in the 4th quarter worth $346,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Merit Medical Systems in the 4th quarter worth $96,000. Guidance Capital Inc. acquired a new stake in shares of Merit Medical Systems in the 1st quarter worth $403,000. Finally, Congress Wealth Management LLC DE acquired a new stake in shares of Merit Medical Systems in the 1st quarter worth $5,502,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $95.68 on Wednesday. The stock has a 50-day simple moving average of $94.26 and a 200-day simple moving average of $85.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24. The stock has a market capitalization of $5.56 billion, a PE ratio of 54.99, a PEG ratio of 2.52 and a beta of 0.87. Merit Medical Systems, Inc. has a 1 year low of $62.58 and a 1 year high of $101.60.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MMSI. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 target price on shares of Merit Medical Systems in a research note on Monday, September 16th. Barrington Research raised their price objective on Merit Medical Systems from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Bank of America raised their price objective on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. 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 research report on Monday, September 9th. Finally, Robert W. Baird initiated coverage on Merit Medical Systems in a research report on Friday, June 28th. They set an “outperform” rating and a $96.00 price objective for the company. Three investment 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’s stock. According to data from MarketBeat, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $101.82.

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.