Sanctuary Advisors LLC Purchases New Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Sanctuary Advisors LLC acquired a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI) in the 3rd quarter, HoldingsChannel reports. The firm acquired 1,964 shares of the medical instruments supplier’s stock, valued at approximately $207,000.

Several other large investors have also added to or reduced their stakes in the stock. TD Private Client Wealth LLC lifted its holdings in Merit Medical Systems by 13.9% in the third quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier’s stock worth $171,000 after buying an additional 211 shares during the period. Geode Capital Management LLC raised its stake in Merit Medical Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,357,265 shares of the medical instruments supplier’s stock valued at $134,165,000 after buying an additional 17,490 shares during the last quarter. Barclays PLC boosted its holdings in Merit Medical Systems by 305.4% in the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock worth $11,142,000 after acquiring an additional 84,923 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Merit Medical Systems by 8.5% in the third quarter. MML Investors Services LLC now owns 17,690 shares of the medical instruments supplier’s stock worth $1,748,000 after acquiring an additional 1,390 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Merit Medical Systems during the third quarter valued at $465,000. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

MMSI opened at $97.29 on Monday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 2.55 and a beta of 0.84. The business’s fifty day simple moving average is $100.98 and its 200-day simple moving average is $94.48. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $108.07.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business 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 revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MMSI. Barrington Research reiterated an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research note on Monday, December 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Canaccord Genuity Group increased their price target on Merit Medical Systems from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company raised Merit Medical Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $103.00 to $120.00 in a research report on Wednesday, December 11th. Finally, Robert W. Baird increased their price target on shares of Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two equities research 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 currently has an average rating of “Moderate Buy” and an average target price of $105.60.

Insider Activity at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 29,646 shares of the company’s stock in a transaction dated 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 $1,603,705.22. This represents a 64.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director F. Ann Millner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $101.55, for a total value of $1,269,375.00. Following the sale, the director now owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

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.