Lisanti Capital Growth LLC Buys New Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Lisanti Capital Growth LLC purchased a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 3rd quarter, Holdings Channel reports. The firm purchased 8,545 shares of the medical instruments supplier’s stock, valued at approximately $845,000.

A number of other institutional investors also recently made changes to their positions in MMSI. William Blair Investment Management LLC increased its position in Merit Medical Systems by 0.3% during the 2nd quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock worth $262,445,000 after purchasing an additional 10,512 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Merit Medical Systems by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock valued at $226,236,000 after buying an additional 38,780 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Merit Medical Systems by 17.6% during the first quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after buying an additional 131,977 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Merit Medical Systems by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock worth $63,543,000 after acquiring an additional 22,077 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Merit Medical Systems by 147.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock worth $54,545,000 after acquiring an additional 377,851 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Price Performance

MMSI stock opened at $104.10 on Tuesday. The firm has a market cap of $6.07 billion, a P/E ratio of 51.03, a price-to-earnings-growth ratio of 2.55 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a 1 year low of $65.46 and a 1 year high of $105.15. The stock has a 50-day simple moving average of $97.19 and a 200-day simple moving average of $89.10.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on MMSI. Bank of America increased their price target on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Robert W. Baird raised their price target on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.36.

Insider Buying and Selling

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 16,361 shares in the company, valued at $1,603,705.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

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.