Bank of America Corp DE Has $57.12 Million Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Bank of America Corp DE boosted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 590,598 shares of the medical instruments supplier’s stock after acquiring an additional 36,535 shares during the period. Bank of America Corp DE owned approximately 1.01% of Merit Medical Systems worth $57,123,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Merit Medical Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier’s stock worth $643,058,000 after buying an additional 63,314 shares in the last quarter. FMR LLC increased its holdings in Merit Medical Systems by 31.6% during the 4th quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier’s stock valued at $200,833,000 after purchasing an additional 499,193 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Merit Medical Systems by 2.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,633,246 shares of the medical instruments supplier’s stock valued at $157,968,000 after purchasing an additional 36,489 shares in the last quarter. Invesco Ltd. raised its position in Merit Medical Systems by 8.3% in the 4th quarter. Invesco Ltd. now owns 1,535,468 shares of the medical instruments supplier’s stock valued at $148,510,000 after purchasing an additional 118,142 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Merit Medical Systems by 12.8% in the fourth quarter. Northern Trust Corp now owns 750,936 shares of the medical instruments supplier’s stock worth $72,631,000 after purchasing an additional 85,483 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler lowered their price objective on Merit Medical Systems from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They set an “overweight” rating and a $120.00 price target for the company. Canaccord Genuity Group reduced their price objective on shares of Merit Medical Systems from $127.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Raymond James lowered their target price on shares of Merit Medical Systems from $116.00 to $108.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Barrington Research reduced their price target on Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.78.

Insider Buying and Selling

In other news, CFO Raul Jr. Parra sold 12,451 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the completion of the transaction, the chief financial officer now owns 24,201 shares of the company’s stock, valued at $2,391,300.81. This represents a 33.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian G. Lloyd sold 25,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the transaction, the insider now owns 38,993 shares of the company’s stock, valued at approximately $3,879,803.50. This represents a 39.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,132 shares of company stock worth $11,139,521. 3.20% of the stock is owned by insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $97.61 on Wednesday. The firm has a market capitalization of $5.77 billion, a PE ratio of 47.85, a P/E/G ratio of 2.34 and a beta of 0.70. 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 company has a 50-day moving average price of $96.79 and a two-hundred day moving average price of $100.54. Merit Medical Systems, Inc. has a twelve month low of $80.02 and a twelve month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. The company had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 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 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. Equities analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS 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.