Pathstone Holdings LLC Has $3.45 Million Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Pathstone Holdings LLC grew its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 20.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,950 shares of the medical instruments supplier’s stock after buying an additional 5,844 shares during the period. Pathstone Holdings LLC owned approximately 0.06% of Merit Medical Systems worth $3,454,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new position in Merit Medical Systems during the second quarter worth $29,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Merit Medical Systems during the first quarter valued at about $44,000. USA Financial Formulas bought a new stake in shares of Merit Medical Systems in the third quarter valued at about $59,000. GAMMA Investing LLC lifted its stake in shares of Merit Medical Systems by 142.3% in the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after buying an additional 488 shares during the period. Finally, National Bank of Canada FI acquired a new stake in Merit Medical Systems during the second quarter worth about $77,000. Institutional investors own 99.66% of the company’s stock.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. The trade was a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MMSI shares. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price target on shares of Merit Medical Systems in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Bank of America boosted their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Robert W. Baird boosted their target price on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.36.

Merit Medical Systems Price Performance

NASDAQ:MMSI opened at $105.33 on Monday. The firm’s fifty day moving average price is $98.59 and its two-hundred day moving average price is $90.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The company has a market cap of $6.14 billion, a P/E ratio of 51.63, a P/E/G ratio of 2.61 and a beta of 0.89. Merit Medical Systems, Inc. has a one year low of $65.46 and a one year high of $106.87.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The business 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 EPS. Equities analysts expect that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Merit Medical Systems 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.