Bailard Inc. acquired a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,200 shares of the medical instruments supplier's stock, valued at approximately $350,000.
A number of other institutional investors have also recently bought and sold shares of MMSI. Lindbrook Capital LLC boosted its position in Merit Medical Systems by 148.4% during the 2nd quarter. Lindbrook Capital LLC now owns 477 shares of the medical instruments supplier's stock worth $26,000 after acquiring an additional 285 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Merit Medical Systems during the 2nd quarter worth about $37,000. Quantbot Technologies LP acquired a new stake in Merit Medical Systems during the 1st quarter worth about $43,000. First Horizon Advisors Inc. lifted its holdings in shares of Merit Medical Systems by 56.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,287 shares of the medical instruments supplier's stock valued at $70,000 after buying an additional 463 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its holdings in shares of Merit Medical Systems by 87.0% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,870 shares of the medical instruments supplier's stock valued at $101,000 after buying an additional 870 shares during the last quarter. 95.38% of the stock is currently owned by institutional investors and hedge funds.
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MMSI opened at $70.17 on Wednesday. The business has a 50 day moving average price of $68.92 and a 200 day moving average price of $61.12. Merit Medical Systems, Inc. has a twelve month low of $50.46 and a twelve month high of $76.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.35. The firm has a market cap of $3.99 billion, a P/E ratio of 64.97, a price-to-earnings-growth ratio of 2.51 and a beta of 1.02.
Merit Medical Systems (NASDAQ:MMSI – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The medical instruments supplier reported $0.64 EPS for the quarter, topping the consensus estimate of $0.53 by $0.11. The company had revenue of $287.18 million for the quarter, compared to the consensus estimate of $273.03 million. Merit Medical Systems had a return on equity of 14.14% and a net margin of 5.43%. Research analysts forecast that Merit Medical Systems, Inc. will post 2.57 EPS for the current year.Analysts Set New Price Targets
MMSI has been the subject of several research reports. StockNews.com lowered Merit Medical Systems from a "strong-buy" rating to a "buy" rating in a report on Monday. Canaccord Genuity Group lifted their price target on Merit Medical Systems from $69.00 to $73.00 in a report on Monday, November 7th. Canaccord Genuity Group lowered Merit Medical Systems from a "buy" rating to a "hold" rating and reduced their price target for the company from $73.00 to $72.00 in a report on Tuesday, December 20th. TheStreet upgraded Merit Medical Systems from a "c+" rating to a "b-" rating in a report on Friday, September 16th. Finally, Piper Sandler boosted their target price on Merit Medical Systems from $70.00 to $73.00 in a report on Thursday, October 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Merit Medical Systems presently has an average rating of "Moderate Buy" and an average target price of $73.50.
About Merit Medical Systems
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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.
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