Harvest Fund Management Co. Ltd Acquires New Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Harvest Fund Management Co. Ltd bought a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,218 shares of the medical instruments supplier’s stock, valued at approximately $120,000.

Other large investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. increased its holdings in shares of Merit Medical Systems by 147.2% in the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock worth $54,545,000 after purchasing an additional 377,851 shares during the period. International Assets Investment Management LLC bought a new stake in Merit Medical Systems during the third quarter valued at $21,156,000. Handelsbanken Fonder AB grew its position in Merit Medical Systems by 1,343.5% during the third quarter. Handelsbanken Fonder AB now owns 192,109 shares of the medical instruments supplier’s stock worth $18,986,000 after buying an additional 178,800 shares in the last quarter. F M Investments LLC bought a new position in Merit Medical Systems in the 2nd quarter worth about $12,550,000. Finally, Impax Asset Management Group plc purchased a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $11,860,000. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Stock Performance

NASDAQ:MMSI opened at $103.66 on Thursday. Merit Medical Systems, Inc. has a twelve month low of $65.46 and a twelve month high of $106.87. The firm’s fifty day simple moving average is $98.91 and its 200 day simple moving average is $91.41. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The stock has a market cap of $6.04 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 2.60 and a beta of 0.89.

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

Analyst Ratings Changes

Several brokerages recently issued reports on MMSI. 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 research report on Monday, September 16th. Robert W. Baird increased their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Bank of America lifted their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.36.

Insider Activity

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction on Friday, November 15th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the completion of the transaction, the chief financial officer now owns 16,361 shares of the company’s stock, valued at $1,603,705.22. This represents a 64.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

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.