Sanctuary Advisors LLC Invests $207,000 in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Sanctuary Advisors LLC acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,964 shares of the medical instruments supplier’s stock, valued at approximately $207,000.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in Merit Medical Systems by 1.9% during 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 purchasing an additional 9,358 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Merit Medical Systems by 7.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,171 shares of the medical instruments supplier’s stock worth $1,476,000 after purchasing an additional 1,182 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Merit Medical Systems by 80.6% during the second quarter. Crossmark Global Holdings Inc. now owns 8,031 shares of the medical instruments supplier’s stock worth $690,000 after buying an additional 3,584 shares in the last quarter. nVerses Capital LLC raised its holdings in shares of Merit Medical Systems by 154.5% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the medical instruments supplier’s stock valued at $241,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Merit Medical Systems by 10.8% in the second quarter. Natixis Advisors LLC now owns 66,535 shares of the medical instruments supplier’s stock valued at $5,719,000 after purchasing an additional 6,487 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analyst Ratings Changes

MMSI has been the subject of several recent research reports. Wells Fargo & Company raised Merit Medical Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $120.00 in a research report on Wednesday, December 11th. Barrington Research reiterated an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research note on Monday, December 23rd. Needham & Company LLC reissued a “buy” rating and set a $109.00 target price on shares of Merit Medical Systems in a report on Thursday, October 31st. StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Two investment 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. Based on data from MarketBeat.com, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $105.60.

Insiders Place Their Bets

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 transaction, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. This represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Performance

MMSI stock opened at $97.29 on Monday. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $108.07. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $100.98 and a 200-day moving average price of $94.48. The firm has a market cap of $5.67 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly 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 expect that Merit Medical Systems, Inc. will post 3.36 earnings per share 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.