Virtus Investment Advisers Inc. Raises Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Virtus Investment Advisers Inc. lifted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 45.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,192 shares of the medical instruments supplier’s stock after purchasing an additional 3,513 shares during the period. Merit Medical Systems accounts for about 0.8% of Virtus Investment Advisers Inc.’s investment portfolio, making the stock its 22nd biggest holding. Virtus Investment Advisers Inc.’s holdings in Merit Medical Systems were worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Barclays PLC grew its stake 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 purchasing an additional 84,923 shares during the period. Park Avenue Securities LLC grew its position in shares of Merit Medical Systems by 20.6% in the 4th quarter. Park Avenue Securities LLC now owns 4,812 shares of the medical instruments supplier’s stock worth $465,000 after buying an additional 821 shares during the period. Ballentine Partners LLC purchased a new stake in shares of Merit Medical Systems in the 4th quarter worth about $200,000. AMI Asset Management Corp increased its stake in shares of Merit Medical Systems by 28.7% in the 4th quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier’s stock worth $3,196,000 after acquiring an additional 7,367 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in Merit Medical Systems by 8.3% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 195,140 shares of the medical instruments supplier’s stock valued at $18,874,000 after acquiring an additional 14,990 shares during the period. Institutional investors own 99.66% of the company’s stock.

Insider Transactions at Merit Medical Systems

In related news, Director Stephen C. Evans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total value of $526,550.00. Following the transaction, the director now owns 4,657 shares of the company’s stock, valued at approximately $490,428.67. This trade represents a 51.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the sale, the chief executive officer now directly owns 1,086,028 shares of the company’s stock, valued at approximately $112,794,868.08. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,132 shares of company stock worth $11,139,521 in the last ninety days. Insiders own 3.20% of the company’s stock.

Merit Medical Systems Stock Up 1.3%

Merit Medical Systems stock opened at $98.83 on Monday. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 48.45, a PEG ratio of 2.34 and a beta of 0.70. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 12 month low of $80.02 and a 12 month high of $111.45. The stock has a fifty day simple moving average of $96.75 and a two-hundred day simple moving average of $100.60.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. The company had revenue of $355.35 million during the quarter, compared to the consensus estimate of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. Merit Medical Systems’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS. Equities analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MMSI shares. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They issued an “overweight” rating and a $120.00 price objective on the stock. Needham & Company LLC upped their price target on Merit Medical Systems from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company set a $106.00 price objective on Merit Medical Systems and gave the company an “overweight” rating in a research report on Friday, April 25th. Robert W. Baird lowered their price objective on Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Canaccord Genuity Group cut their target price on Merit Medical Systems from $127.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.67.

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.