Merit Medical Systems, Inc. $MMSI Shares Bought by Angeles Wealth Management LLC

Angeles Wealth Management LLC raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,351 shares of the medical instruments supplier’s stock after acquiring an additional 285 shares during the quarter. Angeles Wealth Management LLC’s holdings in Merit Medical Systems were worth $220,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Maseco LLP acquired a new stake in Merit Medical Systems in the second quarter valued at approximately $28,000. IFP Advisors Inc grew its position in Merit Medical Systems by 1,435.0% in the first quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier’s stock valued at $32,000 after acquiring an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Merit Medical Systems by 119.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Merit Medical Systems by 55.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 134 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in Merit Medical Systems in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $81.86 on Friday. The business’s fifty day moving average price is $85.40 and its 200 day moving average price is $89.91. Merit Medical Systems, Inc. has a 12-month low of $78.12 and a 12-month high of $111.45. The stock has a market capitalization of $4.85 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 2.63 and a beta of 0.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data 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 return on equity of 15.07% and a net margin of 8.31%.The firm had revenue of $382.46 million for the quarter, compared to analysts’ expectations of $372.47 million. During the same period last year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter 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 Transactions at Merit Medical Systems

In related news, Director Lynne N. Ward sold 3,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following the transaction, the director directly owned 12,809 shares in the company, valued at $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 SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MMSI has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research report on Friday, July 18th. Piper Sandler reduced their target price on Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Barrington Research reiterated an “outperform” rating and set a $103.00 target price on shares of Merit Medical Systems in a research note on Tuesday, October 7th. Canaccord Genuity Group increased their target price on Merit Medical Systems from $103.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Merit Medical Systems in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Merit Medical Systems 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.