Amalgamated Bank Has $1.69 Million Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Amalgamated Bank trimmed its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,072 shares of the medical instruments supplier’s stock after selling 639 shares during the quarter. Amalgamated Bank’s holdings in Merit Medical Systems were worth $1,687,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MMSI. Quantbot Technologies LP boosted its stake in shares of Merit Medical Systems by 17,716.1% during the first quarter. Quantbot Technologies LP now owns 9,977 shares of the medical instruments supplier’s stock valued at $756,000 after purchasing an additional 9,921 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Merit Medical Systems by 97.4% in the first quarter. SG Americas Securities LLC now owns 4,208 shares of the medical instruments supplier’s stock worth $319,000 after acquiring an additional 2,076 shares during the period. Swiss National Bank lifted its stake in shares of Merit Medical Systems by 0.4% in the first quarter. Swiss National Bank now owns 114,000 shares of the medical instruments supplier’s stock worth $8,636,000 after acquiring an additional 500 shares during the period. Headlands Technologies LLC bought a new stake in Merit Medical Systems in the first quarter valued at approximately $50,000. Finally, ProShare Advisors LLC increased its position in Merit Medical Systems by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,484 shares of the medical instruments supplier’s stock valued at $870,000 after purchasing an additional 790 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Performance

Shares of MMSI stock opened at $104.24 on Wednesday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $97.34 and a two-hundred day simple moving average of $89.32. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $105.46. The firm has a market capitalization of $6.08 billion, a PE ratio of 51.03, a price-to-earnings-growth ratio of 2.55 and a beta of 0.89.

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

Analyst Upgrades and Downgrades

MMSI has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. 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 report on Monday, September 16th. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Robert W. Baird raised their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Barrington Research reissued an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.36.

Insiders Place Their Bets

In related news, CFO Raul Jr. Parra sold 29,646 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total transaction of $2,905,900.92. Following the transaction, the chief financial officer now owns 16,361 shares of the company’s stock, valued at $1,603,705.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Company 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.