Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp boosted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 9.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 30,702 shares of the medical instruments supplier’s stock after buying an additional 2,652 shares during the period. Stifel Financial Corp’s holdings in Merit Medical Systems were worth $2,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky boosted its position in Merit Medical Systems by 74.2% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 32,089 shares of the medical instruments supplier’s stock valued at $3,103,000 after buying an additional 13,672 shares during the last quarter. MML Investors Services LLC increased its holdings in Merit Medical Systems by 18.8% during the 4th quarter. MML Investors Services LLC now owns 21,021 shares of the medical instruments supplier’s stock worth $2,033,000 after purchasing an additional 3,331 shares during the last quarter. Mesirow Institutional Investment Management Inc. raised its position in shares of Merit Medical Systems by 0.6% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 113,438 shares of the medical instruments supplier’s stock valued at $10,972,000 after purchasing an additional 689 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Merit Medical Systems by 4.7% during the fourth quarter. MetLife Investment Management LLC now owns 34,585 shares of the medical instruments supplier’s stock worth $3,345,000 after buying an additional 1,557 shares in the last quarter. Finally, Curi RMB Capital LLC acquired a new stake in Merit Medical Systems in the fourth quarter valued at $5,874,000. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $95.66 on Friday. 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 firm’s 50 day moving average is $97.66 and its two-hundred day moving average is $100.54. The firm has a market capitalization of $5.65 billion, a P/E ratio of 46.89, a PEG ratio of 2.34 and a beta of 0.70. Merit Medical Systems, Inc. has a 52 week low of $78.73 and a 52 week high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. The company had revenue of $355.35 million during the quarter, compared to analyst estimates of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. Analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 31,320 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the sale, the chief executive officer now directly owns 1,086,028 shares in the company, valued at $112,794,868.08. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Raul Jr. Parra sold 12,451 shares of Merit Medical Systems stock in a transaction on Friday, February 28th. The shares were sold at an average price of $98.81, for a total value of $1,230,283.31. Following the transaction, the chief financial officer now owns 24,201 shares in the company, valued at approximately $2,391,300.81. This trade represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,132 shares of company stock worth $11,139,521 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MMSI. JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They issued an “overweight” rating and a $120.00 target price for the company. Wells Fargo & Company set a $106.00 target price on Merit Medical Systems and gave the stock an “overweight” rating in a report on Friday, April 25th. Piper Sandler dropped their price target on Merit Medical Systems from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Barrington Research decreased their price objective on shares of Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Canaccord Genuity Group dropped their target price on shares of Merit Medical Systems from $127.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.78.

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.