Quest Partners LLC Has $1.17 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Quest Partners LLC increased its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 92.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,843 shares of the medical instruments supplier’s stock after buying an additional 5,695 shares during the quarter. Quest Partners LLC’s holdings in Merit Medical Systems were worth $1,170,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MMSI. Point72 Asset Management L.P. raised its stake in 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 buying an additional 377,851 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $21,156,000. Handelsbanken Fonder AB raised its stake in shares of Merit Medical Systems by 1,343.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 192,109 shares of the medical instruments supplier’s stock valued at $18,986,000 after purchasing an additional 178,800 shares during the period. F M Investments LLC acquired a new stake in shares of Merit Medical Systems in the 2nd quarter valued at about $12,550,000. Finally, Westwood Holdings Group Inc. raised its stake in shares of Merit Medical Systems by 17.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock valued at $66,685,000 after purchasing an additional 131,977 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Wall Street Analysts Forecast Growth

MMSI has been the topic of several recent research reports. Bank of America lifted their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. StockNews.com downgraded Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Robert W. Baird lifted their price target 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. Finally, Wells Fargo & Company raised their price objective 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. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.36.

Insider Activity

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction that occurred 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 directly owns 16,361 shares in the company, valued at $1,603,705.22. The trade was a 64.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director F. Ann Millner sold 12,500 shares of the business’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 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 disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Merit Medical Systems Trading Up 0.7 %

Merit Medical Systems stock opened at $104.71 on Wednesday. Merit Medical Systems, Inc. has a 52 week low of $65.46 and a 52 week high of $105.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The stock has a market capitalization of $6.10 billion, a P/E ratio of 51.33, a PEG ratio of 2.53 and a beta of 0.89. The stock has a 50-day simple moving average of $97.93 and a 200 day simple moving average of $90.28.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly 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. The business had revenue of $339.85 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. Analysts expect that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

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.