Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 8.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 727,340 shares of the medical instruments supplier’s stock after acquiring an additional 54,122 shares during the period. Charles Schwab Investment Management Inc. owned about 1.25% of Merit Medical Systems worth $71,883,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. William Blair Investment Management LLC boosted its holdings in Merit Medical Systems by 0.3% during the 2nd quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after acquiring an additional 10,512 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of Merit Medical Systems by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock valued at $226,236,000 after purchasing an additional 38,780 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Merit Medical Systems by 147.2% in the second quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after purchasing an additional 377,851 shares during the period. Congress Asset Management Co. grew its holdings in shares of Merit Medical Systems by 2.7% in the third quarter. Congress Asset Management Co. now owns 589,976 shares of the medical instruments supplier’s stock valued at $58,307,000 after purchasing an additional 15,534 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Merit Medical Systems by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 514,541 shares of the medical instruments supplier’s stock worth $44,225,000 after buying an additional 9,358 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the sale, the director now owns 32,391 shares in the company, valued at $3,289,306.05. This represents a 27.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction 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 directly owns 16,361 shares in the company, valued at $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Merit Medical Systems Price Performance

Shares of NASDAQ:MMSI opened at $103.66 on Friday. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $106.87. The firm has a market capitalization of $6.04 billion, a P/E ratio of 50.81, a P/E/G ratio of 2.60 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The company’s fifty day moving average price is $98.98 and its 200 day moving average price is $91.50.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Bank of America boosted their target price on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Robert W. Baird increased their price target on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Finally, StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $103.36.

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.