DRW Securities LLC Invests $203,000 in Merit Medical Systems, Inc. (NASDAQ:MMSI)

DRW Securities LLC acquired a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,059 shares of the medical instruments supplier’s stock, valued at approximately $203,000.

Several other institutional investors have also added to or reduced their stakes in the business. Van ECK Associates Corp bought a new stake in shares of Merit Medical Systems in the third quarter valued at approximately $718,000. Lazard Asset Management LLC lifted its position in shares of Merit Medical Systems by 1,147.3% during the first quarter. Lazard Asset Management LLC now owns 7,858 shares of the medical instruments supplier’s stock worth $594,000 after acquiring an additional 7,228 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Merit Medical Systems by 2.7% in 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 period. Natixis Advisors LLC grew its position in shares of Merit Medical Systems by 10.8% in the second quarter. Natixis Advisors LLC now owns 66,535 shares of the medical instruments supplier’s stock valued at $5,719,000 after purchasing an additional 6,487 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Merit Medical Systems by 3.1% during the 2nd quarter. Raymond James & Associates now owns 129,024 shares of the medical instruments supplier’s stock valued at $11,090,000 after purchasing an additional 3,933 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Price Performance

MMSI opened at $103.66 on Thursday. 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 stock has a market capitalization of $6.04 billion, a P/E ratio of 50.81, a PEG ratio of 2.60 and a beta of 0.89. The stock has a 50-day moving average price of $98.91 and a 200-day moving average price of $91.41. Merit Medical Systems, Inc. has a 12-month low of $65.46 and a 12-month high of $106.87.

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

Insider Buying and Selling

In other news, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. This trade represents a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the sale, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MMSI has been the subject of several analyst reports. Bank of America raised their target price 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 boosted their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Barrington Research reissued an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $103.36.

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.