Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 216.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,064 shares of the medical instruments supplier’s stock after purchasing an additional 6,887 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Merit Medical Systems were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of MMSI. Point72 Asset Management L.P. lifted its position in shares of Merit Medical Systems by 147.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock valued at $54,545,000 after acquiring an additional 377,851 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Merit Medical Systems during the 3rd quarter valued at approximately $21,156,000. Handelsbanken Fonder AB lifted its position in shares of Merit Medical Systems by 1,343.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 192,109 shares of the medical instruments supplier’s stock valued at $18,986,000 after acquiring an additional 178,800 shares during the period. F M Investments LLC acquired a new stake in shares of Merit Medical Systems during the 2nd quarter valued at approximately $12,550,000. Finally, Impax Asset Management Group plc acquired a new stake in shares of Merit Medical Systems during the 3rd quarter valued at approximately $11,860,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Stock Down 0.3 %

MMSI stock opened at $103.66 on Thursday. The stock has a market capitalization of $6.04 billion, a P/E ratio of 50.81, a PEG ratio of 2.60 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a one year low of $65.46 and a one year high of $106.87. The company has a 50 day moving average price of $98.91 and a two-hundred day moving average price of $91.41.

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 analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. Merit Medical Systems’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.75 EPS. As a group, sell-side analysts expect that Merit Medical Systems, Inc. will post 3.36 EPS for the current year.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Barrington Research reissued an “outperform” rating and set a $114.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Bank of America raised their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, Robert W. Baird raised their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note 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. According to MarketBeat, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and an average price target of $103.36.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of Merit Medical Systems stock in a transaction 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 transaction, the chief financial officer now owns 16,361 shares in the company, valued at $1,603,705.22. This trade represents a 64.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction on 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 owns 32,391 shares in the company, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

About Merit Medical Systems

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.