Merit Medical Systems, Inc. $MMSI Stock Acquired by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC increased its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 88.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,048 shares of the medical instruments supplier’s stock after buying an additional 17,899 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Merit Medical Systems were worth $3,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in Merit Medical Systems by 1.1% during the second quarter. Arizona State Retirement System now owns 16,459 shares of the medical instruments supplier’s stock worth $1,141,000 after acquiring an additional 174 shares in the last quarter. Sowell Financial Services LLC grew its position in shares of Merit Medical Systems by 4.0% in the 3rd quarter. Sowell Financial Services LLC now owns 4,609 shares of the medical instruments supplier’s stock valued at $397,000 after acquiring an additional 179 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Merit Medical Systems by 16.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,551 shares of the medical instruments supplier’s stock valued at $107,000 after acquiring an additional 216 shares during the period. Brucke Financial Inc. increased its stake in shares of Merit Medical Systems by 5.8% during the 3rd quarter. Brucke Financial Inc. now owns 4,475 shares of the medical instruments supplier’s stock worth $386,000 after purchasing an additional 247 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Merit Medical Systems by 11.4% during the 3rd quarter. Signaturefd LLC now owns 2,465 shares of the medical instruments supplier’s stock worth $213,000 after purchasing an additional 253 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Price Performance

Shares of MMSI opened at $84.16 on Wednesday. The firm has a market capitalization of $5.04 billion, a PE ratio of 21.67, a PEG ratio of 2.07 and a beta of 0.56. The company’s 50-day moving average is $88.35 and its 200-day moving average is $77.17. Merit Medical Systems, Inc. has a fifty-two week low of $59.74 and a fifty-two week high of $94.85. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.52 and a quick ratio of 3.05.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Thursday, October 29th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $416.24 million during the quarter, compared to analysts’ expectations of $410.56 million. Merit Medical Systems had a net margin of 9.94% and a return on equity of 14.12%. Merit Medical Systems’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. Equities analysts forecast that Merit Medical Systems, Inc. will post 3.84 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Merit Medical Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, October 12th. Bank of America boosted their price target on Merit Medical Systems from $92.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Needham & Company LLC upped their price objective on Merit Medical Systems from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Friday. Freedom Capital initiated coverage on Merit Medical Systems in a research note on Tuesday, October 27th. They issued a “hold” rating on the stock. Finally, Barrington Research set a $114.00 price objective on Merit Medical Systems in a research report on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.55.

Merit Medical Systems Profile

Merit Medical Systems, Inc is a medical device company that develops, manufactures and distributes disposable products used in interventional, diagnostic and therapeutic procedures. Its devices are designed for use by healthcare professionals in hospitals, outpatient facilities and other clinical settings.

The company’s product portfolio includes devices for vascular access, angiography, intervention, drainage, embolization, oncology and cardiac procedures. Merit also offers products used in peripheral intervention, spine procedures and other specialized areas of minimally invasive medicine, including kits, accessories and related procedural equipment.

Founded in 1987 and headquartered in South Jordan, Utah, Merit Medical serves healthcare providers through a global commercial and manufacturing network.