abrdn plc Trims Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

abrdn plc lessened its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 364,918 shares of the medical instruments supplier’s stock after selling 5,023 shares during the period. abrdn plc owned about 0.63% of Merit Medical Systems worth $36,065,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems during the 2nd quarter worth approximately $29,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Merit Medical Systems during the first quarter worth $44,000. Headlands Technologies LLC purchased a new stake in shares of Merit Medical Systems during the first quarter valued at $50,000. USA Financial Formulas purchased a new stake in shares of Merit Medical Systems during the third quarter valued at $59,000. Finally, EntryPoint Capital LLC grew its holdings in shares of Merit Medical Systems by 2,666.7% in the first quarter. EntryPoint Capital LLC now owns 913 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Trading Down 1.0 %

Shares of NASDAQ MMSI opened at $94.90 on Thursday. The business has a fifty day moving average price of $96.36 and a 200 day moving average price of $87.63. Merit Medical Systems, Inc. has a 1-year low of $65.46 and a 1-year high of $101.60. 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 has a market capitalization of $5.51 billion, a P/E ratio of 54.54, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The business had revenue of $338.00 million during the quarter, compared to analyst estimates of $334.94 million. Equities research analysts expect that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MMSI. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price objective on shares of Merit Medical Systems in a report on Monday, September 16th. StockNews.com upgraded Merit Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Barrington Research reissued an “outperform” rating and issued a $114.00 price objective on shares of Merit Medical Systems in a research note on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, Wells Fargo & Company increased their price target on 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. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.82.

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.