Truist Financial Corp Sells 745 Shares of Merit Medical Systems, Inc. $MMSI

Truist Financial Corp trimmed its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.4% during the 2nd quarter, Holdings Channel reports. The firm owned 13,115 shares of the medical instruments supplier’s stock after selling 745 shares during the quarter. Truist Financial Corp’s holdings in Merit Medical Systems were worth $1,226,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MMSI. GAMMA Investing LLC increased its position in shares of Merit Medical Systems by 31.1% in the first quarter. GAMMA Investing LLC now owns 1,959 shares of the medical instruments supplier’s stock worth $207,000 after purchasing an additional 465 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Merit Medical Systems in the first quarter worth approximately $294,000. Elevation Point Wealth Partners LLC increased its position in shares of Merit Medical Systems by 27.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 4,003 shares of the medical instruments supplier’s stock worth $423,000 after purchasing an additional 869 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Merit Medical Systems in the first quarter worth approximately $31,000. Finally, Sowell Financial Services LLC bought a new position in shares of Merit Medical Systems in the first quarter worth approximately $434,000. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Stock Down 4.2%

Shares of Merit Medical Systems stock opened at $78.99 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. Merit Medical Systems, Inc. has a 52-week low of $78.12 and a 52-week high of $111.45. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 40.10, a P/E/G ratio of 2.54 and a beta of 0.58. The company’s 50 day moving average price is $85.83 and its 200-day moving average price is $90.67.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The firm had revenue of $382.46 million for the quarter, compared to analysts’ expectations of $372.47 million. During the same quarter last year, the business earned $0.92 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. Equities research analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Activity

In other news, Director Lynne N. Ward sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the transaction, the director owned 12,809 shares in the company, valued at approximately $1,134,365.04. This trade represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MMSI shares. Barrington Research restated an “outperform” rating and issued a $103.00 price objective on shares of Merit Medical Systems in a research report on Tuesday, October 7th. Wells Fargo & Company reduced their price target on shares of Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Raymond James Financial reduced their price target on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price target on shares of Merit Medical Systems in a research report on Friday, July 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Merit Medical Systems in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $107.50.

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.