Mercer Global Advisors Inc. ADV Reduces Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Mercer Global Advisors Inc. ADV lowered its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,295 shares of the medical instruments supplier’s stock after selling 207 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Merit Medical Systems were worth $319,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. NewSquare Capital LLC purchased a new stake in Merit Medical Systems during the 4th quarter valued at $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Merit Medical Systems in the 4th quarter worth about $52,000. Federated Hermes Inc. lifted its position in shares of Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after purchasing an additional 381 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Merit Medical Systems by 237.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock worth $134,000 after purchasing an additional 977 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Merit Medical Systems in the 4th quarter worth about $199,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In other news, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the sale, the insider now directly owns 38,993 shares in the company, valued at $3,879,803.50. The trade was a 39.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of Merit Medical Systems stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the completion of the sale, the chief executive officer now owns 1,086,028 shares of the company’s stock, valued at $112,794,868.08. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,132 shares of company stock worth $11,139,521. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MMSI has been the subject of several research analyst reports. Wells Fargo & Company set a $106.00 target price on shares of Merit Medical Systems and gave the stock an “overweight” rating in a research report on Friday, April 25th. Piper Sandler dropped their target price on shares of 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. Robert W. Baird dropped their target price on shares of Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Raymond James dropped 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 research report on Friday, April 25th. Finally, Needham & Company LLC dropped their target price on shares of Merit Medical Systems from $116.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $107.78.

Merit Medical Systems Trading Down 0.6%

Shares of NASDAQ MMSI opened at $97.01 on Thursday. Merit Medical Systems, Inc. has a 1 year low of $80.02 and a 1 year high of $111.45. The stock has a market cap of $5.73 billion, a P/E ratio of 47.55, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70. The firm has a 50-day moving average of $96.73 and a 200 day moving average of $100.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. The business had revenue of $355.35 million during the quarter, compared to analyst estimates of $352.57 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. Merit Medical Systems’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. As a group, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

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.