AMI Asset Management Corp Sells 1,363 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

AMI Asset Management Corp cut its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,678 shares of the medical instruments supplier’s stock after selling 1,363 shares during the period. AMI Asset Management Corp owned about 0.05% of Merit Medical Systems worth $3,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MMSI. Truist Financial Corp raised its position in Merit Medical Systems by 16.3% during the 4th quarter. Truist Financial Corp now owns 12,454 shares of the medical instruments supplier’s stock valued at $1,205,000 after purchasing an additional 1,744 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Merit Medical Systems by 1.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 30,342 shares of the medical instruments supplier’s stock worth $2,935,000 after acquiring an additional 400 shares in the last quarter. Bryn Mawr Capital Management LLC bought a new position in shares of Merit Medical Systems in the 4th quarter worth $203,000. Fisher Asset Management LLC raised its position in shares of Merit Medical Systems by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 224,181 shares of the medical instruments supplier’s stock worth $21,683,000 after acquiring an additional 2,491 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised 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 acquiring an additional 977 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MMSI. Wells Fargo & Company reissued an “overweight” rating and issued a $108.00 price target (up from $106.00) on shares of Merit Medical Systems in a research report on Wednesday, May 21st. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a research note on Friday, March 28th. They set an “overweight” rating and a $120.00 price target on the stock. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the company a “buy” rating in a research note on Wednesday, May 21st. Needham & Company LLC upped their price target on Merit Medical Systems from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Robert W. Baird reduced their price target on Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating for the company in a 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and an average price target of $109.11.

Insider Activity at Merit Medical Systems

In related news, Director F. Ann Millner sold 21,250 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $96.47, for a total value of $2,049,987.50. Following the completion of the transaction, the director now directly owns 34,543 shares in the company, valued at approximately $3,332,363.21. This represents a 38.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Raul Jr. Parra sold 15,181 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the transaction, the chief financial officer now owns 24,201 shares of the company’s stock, valued at $2,268,843.75. The trade was a 38.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,596 shares of company stock valued at $8,171,433. 3.20% of the stock is currently owned by insiders.

Merit Medical Systems Price Performance

Shares of Merit Medical Systems stock opened at $92.65 on Thursday. The business has a 50 day simple moving average of $94.58 and a two-hundred day simple moving average of $98.96. Merit Medical Systems, Inc. has a 12 month low of $82.04 and a 12 month high of $111.45. The stock has a market capitalization of $5.48 billion, a P/E ratio of 45.42, a PEG ratio of 3.07 and a beta of 0.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.87 and a quick ratio of 3.26.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.52% and a net margin of 8.81%. The business had revenue of $355.35 million during the quarter, compared to analysts’ expectations of $352.57 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

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.