Crossmark Global Holdings Inc. Has $461,000 Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Crossmark Global Holdings Inc. lessened its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 41.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,668 shares of the medical instruments supplier’s stock after selling 3,363 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Merit Medical Systems were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in Merit Medical Systems by 2.9% in the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after buying an additional 118 shares during the period. Xponance Inc. raised its position in shares of Merit Medical Systems by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock valued at $311,000 after acquiring an additional 170 shares during the period. Entropy Technologies LP boosted its stake in Merit Medical Systems by 6.5% during the 1st quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock worth $251,000 after acquiring an additional 203 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Merit Medical Systems by 5.9% during the third quarter. Park Avenue Securities LLC now owns 3,991 shares of the medical instruments supplier’s stock valued at $394,000 after purchasing an additional 223 shares during the period. Finally, Blue Trust Inc. increased its stake in Merit Medical Systems by 19.7% in the second quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier’s stock valued at $123,000 after purchasing an additional 235 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MMSI. 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 shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Barrington Research restated an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price objective on shares of Merit Medical Systems in a research report 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 stock. According to data from MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and an average target price of $103.36.

Merit Medical Systems Stock Up 0.6 %

Shares of NASDAQ:MMSI opened at $101.83 on Friday. The business’s 50 day moving average is $97.80 and its 200 day moving average is $89.88. Merit Medical Systems, Inc. has a 12-month low of $65.46 and a 12-month high of $105.46. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 2.52 and a beta of 0.89. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

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

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the sale, the chief financial officer now directly owns 16,361 shares in the company, valued at $1,603,705.22. This represents a 64.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

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.