AlphaMark Advisors LLC Purchases New Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

AlphaMark Advisors LLC acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,527 shares of the medical instruments supplier’s stock, valued at approximately $349,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. purchased a new stake in Merit Medical Systems in the fourth quarter worth about $346,000. Congress Asset Management Co. MA boosted its stake in shares of Merit Medical Systems by 4,411.3% during the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after purchasing an additional 506,992 shares in the last quarter. Guidance Capital Inc. purchased a new position in Merit Medical Systems during the first quarter valued at approximately $403,000. Diversified Trust Co raised its stake in Merit Medical Systems by 5.4% in the first quarter. Diversified Trust Co now owns 11,293 shares of the medical instruments supplier’s stock worth $855,000 after buying an additional 577 shares in the last quarter. Finally, Congress Wealth Management LLC DE purchased a new stake in Merit Medical Systems during the first quarter worth $5,502,000. 99.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MMSI. Canaccord Genuity Group boosted their price target on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Needham & Company LLC reissued a “buy” rating and set a $105.00 price target on shares of Merit Medical Systems in a research report on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Robert W. Baird started coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They set an “outperform” rating and a $96.00 price objective for the company. Finally, Bank of America raised their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $96.48 on Friday. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 55.45, a PEG ratio of 2.41 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64. The stock’s fifty day moving average price is $95.61 and its 200 day moving average price is $86.24. Merit Medical Systems, Inc. has a 1 year low of $63.13 and a 1 year high of $101.60.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The business had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. As a group, equities research analysts forecast that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current year.

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.