Rockefeller Capital Management L.P. Boosts Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Rockefeller Capital Management L.P. lifted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 641,705 shares of the medical instruments supplier’s stock after purchasing an additional 3,068 shares during the period. Rockefeller Capital Management L.P.’s holdings in Merit Medical Systems were worth $63,406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. William Blair Investment Management LLC raised its holdings in shares of Merit Medical Systems by 0.3% in the 2nd quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after purchasing an additional 10,512 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Merit Medical Systems by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,289,148 shares of the medical instruments supplier’s stock worth $226,236,000 after buying an additional 38,780 shares during the last quarter. FMR LLC lifted its holdings in Merit Medical Systems by 70.1% during the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier’s stock worth $155,879,000 after buying an additional 649,799 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Merit Medical Systems by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 727,340 shares of the medical instruments supplier’s stock valued at $71,883,000 after acquiring an additional 54,122 shares during the last quarter. Finally, Point72 Asset Management L.P. raised 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 worth $54,545,000 after acquiring an additional 377,851 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,289,306.05. This represents a 27.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $2,905,900.92. Following the completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $103.90 on Friday. Merit Medical Systems, Inc. has a 52 week low of $65.46 and a 52 week high of $106.87. The firm has a market capitalization of $6.06 billion, a PE ratio of 50.93, a P/E/G ratio of 2.57 and a beta of 0.89. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $99.06 and its 200 day simple moving average is $91.66.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. Merit Medical Systems’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, equities research analysts predict that Merit Medical Systems, Inc. will post 3.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MMSI has been the subject of a number of research analyst reports. 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 report on Monday, September 9th. Robert W. Baird upped their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $109.00 target price on shares of Merit Medical Systems in a research note on Thursday, October 31st. Wells Fargo & Company raised their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Finally, StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Merit Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $103.36.

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.