Atria Investments Inc Purchases 2,127 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Atria Investments Inc increased its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 25.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,461 shares of the medical instruments supplier’s stock after buying an additional 2,127 shares during the period. Atria Investments Inc’s holdings in Merit Medical Systems were worth $1,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Impax Asset Management Group plc purchased a new stake in Merit Medical Systems in the 3rd quarter worth $11,860,000. QRG Capital Management Inc. grew its holdings in Merit Medical Systems by 16.9% during the 3rd quarter. QRG Capital Management Inc. now owns 8,572 shares of the medical instruments supplier’s stock valued at $847,000 after buying an additional 1,240 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Merit Medical Systems during the 3rd quarter worth approximately $718,000. Farther Finance Advisors LLC boosted its position in shares of Merit Medical Systems by 32.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock valued at $104,000 after acquiring an additional 260 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in Merit Medical Systems by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock worth $226,236,000 after purchasing an additional 38,780 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on MMSI. Piper Sandler reiterated an “overweight” rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Wells Fargo & Company upped their price objective on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Bank of America lifted their target price on Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, Barrington Research restated an “outperform” rating and issued a $114.00 price target 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.36.

Insider Activity at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction dated 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 approximately $1,603,705.22. This trade represents a 64.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Merit Medical Systems Trading Up 0.6 %

MMSI stock opened at $101.83 on Monday. Merit Medical Systems, Inc. has a 12 month low of $65.46 and a 12 month high of $105.46. The firm’s 50-day moving average is $97.80 and its 200 day moving average is $89.99. The company has a market capitalization of $5.93 billion, a PE ratio of 49.92, a P/E/G ratio of 2.53 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data 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 return on equity of 15.61% and a net margin of 9.05%. The firm had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. During the same period in the previous year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 3.36 EPS for the current 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.