Merit Medical Systems, Inc. (NASDAQ:MMSI) Position Increased by M&T Bank Corp

M&T Bank Corp raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 65.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,223 shares of the medical instruments supplier’s stock after purchasing an additional 11,512 shares during the quarter. M&T Bank Corp owned approximately 0.05% of Merit Medical Systems worth $2,219,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. William Blair Investment Management LLC grew its stake in shares of Merit Medical Systems by 15.4% in the 3rd quarter. William Blair Investment Management LLC now owns 3,895,695 shares of the medical instruments supplier’s stock valued at $268,881,000 after buying an additional 520,423 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Merit Medical Systems by 0.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,151,938 shares of the medical instruments supplier’s stock valued at $163,461,000 after acquiring an additional 11,995 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Merit Medical Systems by 1.2% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,388,905 shares of the medical instruments supplier’s stock valued at $95,862,000 after acquiring an additional 16,488 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Merit Medical Systems by 25.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,031,173 shares of the medical instruments supplier’s stock valued at $71,172,000 after acquiring an additional 212,256 shares in the last quarter. Finally, Northern Trust Corp raised its position in Merit Medical Systems by 1.7% during the third quarter. Northern Trust Corp now owns 719,716 shares of the medical instruments supplier’s stock valued at $49,675,000 after acquiring an additional 11,967 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Down 1.7 %

MMSI opened at $79.11 on Thursday. Merit Medical Systems, Inc. has a fifty-two week low of $62.58 and a fifty-two week high of $85.62. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38. The firm’s fifty day moving average price is $74.16 and its two-hundred day moving average price is $74.46. The company has a market capitalization of $4.60 billion, a P/E ratio of 45.47, a P/E/G ratio of 2.20 and a beta of 0.91.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company had revenue of $323.51 million for the quarter, compared to the consensus estimate of $315.57 million. During the same quarter in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts anticipate that Merit Medical Systems, Inc. will post 3.33 EPS for the current year.

Insider Activity

In other news, Director Thomas James Gunderson sold 18,157 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the sale, the director now owns 19,257 shares in the company, valued at approximately $1,464,109.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Thomas James Gunderson sold 18,157 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the sale, the director now owns 19,257 shares in the company, valued at approximately $1,464,109.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Wright sold 25,000 shares of Merit Medical Systems stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $75.68, for a total value of $1,892,000.00. Following the completion of the transaction, the insider now directly owns 42,223 shares of the company’s stock, valued at $3,195,436.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,637 shares of company stock worth $3,751,673. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MMSI. Piper Sandler raised their price objective on shares of Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Bank of America assumed coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They set a “neutral” rating and a $87.00 price objective on the stock. Oppenheimer lifted their price target on shares of Merit Medical Systems from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Needham & Company LLC dropped their price target on shares of Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Barrington Research lifted their price target on shares of Merit Medical Systems from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.78.

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.