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Diversified Trust Co Buys 665 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Defense World ·  09/22 18:22

Diversified Trust Co boosted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,297 shares of the medical instruments supplier's stock after acquiring an additional 665 shares during the quarter. Diversified Trust Co's holdings in Merit Medical Systems were worth $505,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in Merit Medical Systems in the 1st quarter valued at $29,000. Quantbot Technologies LP acquired a new stake in Merit Medical Systems in the 1st quarter valued at $43,000. Hardy Reed LLC acquired a new stake in Merit Medical Systems in the 1st quarter valued at $155,000. Point72 Hong Kong Ltd increased its stake in Merit Medical Systems by 629.8% in the 4th quarter. Point72 Hong Kong Ltd now owns 3,138 shares of the medical instruments supplier's stock valued at $195,000 after buying an additional 2,708 shares during the last quarter. Finally, Shelton Capital Management acquired a new stake in Merit Medical Systems in the 1st quarter valued at $211,000. 94.52% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TheStreet upgraded shares of Merit Medical Systems from a "c+" rating to a "b-" rating in a research note on Friday, September 16th. StockNews.com upgraded shares of Merit Medical Systems from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 12th. Canaccord Genuity Group upped their price target on shares of Merit Medical Systems from $67.00 to $69.00 in a research note on Friday, September 2nd. Piper Sandler decreased their price target on shares of Merit Medical Systems from $75.00 to $70.00 in a research note on Friday, July 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Merit Medical Systems from $67.00 to $69.00 and gave the company a "buy" rating in a report on Friday, September 2nd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Merit Medical Systems currently has an average rating of "Buy" and an average price target of $72.14.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $55.15 on Thursday. The firm has a 50-day moving average price of $58.56 and a two-hundred day moving average price of $60.08. Merit Medical Systems, Inc. has a 12-month low of $50.46 and a 12-month high of $73.81. The company has a quick ratio of 1.33, a current ratio of 2.52 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.13 billion, a P/E ratio of 54.07, a P/E/G ratio of 2.10 and a beta of 1.00.

Merit Medical Systems (NASDAQ:MMSI – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The medical instruments supplier reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.15. Merit Medical Systems had a net margin of 5.24% and a return on equity of 13.74%. The company had revenue of $294.98 million during the quarter, compared to the consensus estimate of $280.55 million. During the same quarter in the prior year, the firm posted $0.62 EPS. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Analysts anticipate that Merit Medical Systems, Inc. will post 2.47 earnings per share for the current year.

Insider Transactions at Merit Medical Systems

In other news, COO Neil Peterson sold 4,000 shares of the company's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $58.10, for a total transaction of $232,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Ronald Frost sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $62.10, for a total value of $1,242,000.00. Following the completion of the transaction, the chief operating officer now owns 15,144 shares of the company's stock, valued at approximately $940,442.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Neil Peterson sold 4,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $58.10, for a total transaction of $232,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,436 shares of company stock valued at $1,627,142. Company insiders own 3.80% of the company's stock.

Merit Medical Systems Profile

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Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy.

Further Reading

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