Merit Medical Systems, Inc. (NASDAQ:MMSI) Position Lessened by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust trimmed its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 23.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,095 shares of the medical instruments supplier’s stock after selling 73,392 shares during the period. Merit Medical Systems comprises approximately 1.2% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 28th biggest holding. Emerald Mutual Fund Advisers Trust’s holdings in Merit Medical Systems were worth $23,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. UniSuper Management Pty Ltd bought a new position in Merit Medical Systems during the first quarter valued at about $1,083,000. Quantbot Technologies LP raised its holdings in Merit Medical Systems by 17,716.1% during the first quarter. Quantbot Technologies LP now owns 9,977 shares of the medical instruments supplier’s stock valued at $756,000 after buying an additional 9,921 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Merit Medical Systems by 36.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,144 shares of the medical instruments supplier’s stock valued at $1,638,000 after buying an additional 5,915 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Merit Medical Systems by 55.3% during the first quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock valued at $4,011,000 after buying an additional 18,863 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Merit Medical Systems by 1,147.3% during the first quarter. Lazard Asset Management LLC now owns 7,858 shares of the medical instruments supplier’s stock valued at $594,000 after buying an additional 7,228 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MMSI. StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Sunday. Wells Fargo & Company raised their target price on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a research report on Thursday. Barrington Research reaffirmed an “outperform” rating and issued a $114.00 price target on shares of Merit Medical Systems in a research report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.36.

Merit Medical Systems Stock Up 0.1 %

MMSI stock opened at $98.80 on Friday. Merit Medical Systems, Inc. has a twelve month low of $65.46 and a twelve month high of $101.60. The company has a market cap of $5.76 billion, a PE ratio of 48.43, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The business’s 50-day simple moving average is $96.60 and its 200 day simple moving average is $87.99. The company has a quick ratio of 4.64, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $339.85 million for the quarter, compared to the consensus estimate of $334.60 million. During the same period last year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 3.36 earnings per share 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.