Dimensional Fund Advisors LP Sells 67,066 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Posted by Defense World Staff on Sep 8th, 2023

Dimensional Fund Advisors LP trimmed its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI – Free Report) by 4.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,399,971 shares of the medical instruments supplier’s stock after selling 67,066 shares during the period. Dimensional Fund Advisors LP’s holdings in Merit Medical Systems were worth $103,526,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of MMSI. Altshuler Shaham Ltd bought a new stake in Merit Medical Systems in the 4th quarter worth about $26,000. Quantbot Technologies LP purchased a new position in Merit Medical Systems in the 1st quarter worth approximately $43,000. Lazard Asset Management LLC purchased a new position in Merit Medical Systems in the 4th quarter worth approximately $45,000. Huntington National Bank lifted its holdings in Merit Medical Systems by 81,800.0% in the 4th quarter. Huntington National Bank now owns 819 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 818 shares in the last quarter. Finally, Archer Investment Corp purchased a new position in Merit Medical Systems in the 1st quarter worth approximately $60,000. 93.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Merit Medical Systems

In other news, COO Neil Peterson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $67.91, for a total value of $543,280.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Neil Peterson sold 8,000 shares of Merit Medical Systems stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $67.91, for a total transaction of $543,280.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director A Scott Anderson sold 22,180 shares of Merit Medical Systems stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $69.40, for a total value of $1,539,292.00. Following the transaction, the director now owns 49,217 shares in the company, valued at approximately $3,415,659.80. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $63.36 on Friday. The company has a market cap of $3.65 billion, a P/E ratio of 40.62, a P/E/G ratio of 1.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.52 and a current ratio of 3.13. The business’s 50 day moving average price is $73.61 and its 200-day moving average price is $76.24. Merit Medical Systems, Inc. has a fifty-two week low of $52.79 and a fifty-two week high of $85.62.

Merit Medical Systems (NASDAQ:MMSI – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Merit Medical Systems had a return on equity of 14.60% and a net margin of 7.48%. The firm had revenue of $320.06 million during the quarter, compared to analysts’ expectations of $310.10 million. During the same period in the prior year, the business posted $0.73 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Merit Medical Systems, Inc. will post 2.88 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $96.00 price target on shares of Merit Medical Systems in a report on Wednesday, July 26th. Canaccord Genuity Group decreased their price objective on Merit Medical Systems from $86.00 to $70.00 and set a “hold” rating on the stock in a report on Monday, August 28th. Barrington Research reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Merit Medical Systems in a report on Wednesday, August 16th. Piper Sandler upped their price objective on Merit Medical Systems from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, July 21st. Finally, StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and an average target price of $87.83.

Check Out Our Latest Analysis on MMSI

Merit Medical Systems Company Profile

(Free Report)

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. It operates in two segments, Cardiovascular and Endoscopy. The company provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; 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.