Rockefeller Capital Management L.P. Boosts Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Rockefeller Capital Management L.P. grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 641,705 shares of the medical instruments supplier’s stock after purchasing an additional 3,068 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 1.10% of Merit Medical Systems worth $63,406,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MMSI. CreativeOne Wealth LLC boosted its position in shares of Merit Medical Systems by 32.6% in the 3rd quarter. CreativeOne Wealth LLC now owns 5,320 shares of the medical instruments supplier’s stock worth $526,000 after purchasing an additional 1,307 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Merit Medical Systems by 0.6% in the third quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock worth $2,830,000 after acquiring an additional 170 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Merit Medical Systems by 4.5% during the third quarter. Townsquare Capital LLC now owns 28,581 shares of the medical instruments supplier’s stock worth $2,825,000 after acquiring an additional 1,238 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Merit Medical Systems by 310.3% during the third quarter. BNP Paribas Financial Markets now owns 164,724 shares of the medical instruments supplier’s stock valued at $16,280,000 after acquiring an additional 124,576 shares in the last quarter. Finally, Millrace Asset Group Inc. purchased a new position in shares of Merit Medical Systems in the 3rd quarter valued at approximately $560,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insider Activity

In other news, CFO Raul Jr. Parra sold 29,646 shares of the 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 completion of the transaction, the chief financial officer now directly owns 16,361 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the completion of the transaction, the director now directly owns 32,391 shares in the company, valued at $3,289,306.05. The trade was a 27.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Merit Medical Systems Trading Up 0.2 %

MMSI stock opened at $103.90 on Friday. The business’s 50-day moving average is $99.06 and its 200 day moving average is $91.66. Merit Medical Systems, Inc. has a 12-month low of $65.46 and a 12-month high of $106.87. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 2.57 and a beta of 0.89. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly 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. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The firm had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. During the same quarter in the previous year, the company posted $0.75 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.