Truist Financial Corp Sells 745 Shares of Merit Medical Systems, Inc. $MMSI

Truist Financial Corp lowered its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,115 shares of the medical instruments supplier’s stock after selling 745 shares during the quarter. Truist Financial Corp’s holdings in Merit Medical Systems were worth $1,226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Evergreen Capital Management LLC boosted its holdings in Merit Medical Systems by 2.4% during the 1st quarter. Evergreen Capital Management LLC now owns 4,616 shares of the medical instruments supplier’s stock worth $488,000 after acquiring an additional 108 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Merit Medical Systems by 55.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 375 shares of the medical instruments supplier’s stock worth $35,000 after acquiring an additional 134 shares during the last quarter. US Bancorp DE boosted its holdings in Merit Medical Systems by 3.8% during the 1st quarter. US Bancorp DE now owns 3,936 shares of the medical instruments supplier’s stock worth $416,000 after acquiring an additional 145 shares during the last quarter. SageView Advisory Group LLC boosted its holdings in Merit Medical Systems by 3.1% during the 1st quarter. SageView Advisory Group LLC now owns 5,065 shares of the medical instruments supplier’s stock worth $535,000 after acquiring an additional 153 shares during the last quarter. Finally, CWC Advisors LLC. boosted its holdings in Merit Medical Systems by 2.7% during the 2nd quarter. CWC Advisors LLC. now owns 5,892 shares of the medical instruments supplier’s stock worth $551,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In other news, Director Lynne N. Ward sold 3,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following the sale, the director directly owned 12,809 shares in the company, valued at $1,134,365.04. This represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MMSI has been the topic of a number of analyst reports. Raymond James Financial cut their price objective on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, July 18th. Barrington Research reaffirmed an “outperform” rating and set a $103.00 price objective on shares of Merit Medical Systems in a report on Tuesday, October 7th. Wells Fargo & Company cut their price target on shares of Merit Medical Systems from $108.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Finally, Piper Sandler cut their price target on shares of Merit Medical Systems from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Merit Medical Systems Price Performance

NASDAQ MMSI opened at $78.99 on Monday. The company has a market cap of $4.68 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 2.54 and a beta of 0.58. Merit Medical Systems, Inc. has a 52 week low of $78.12 and a 52 week high of $111.45. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $85.83 and its two-hundred day simple moving average is $90.67.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The firm had revenue of $382.46 million for the quarter, compared to analysts’ expectations of $372.47 million. During the same period in the prior year, the business posted $0.92 earnings per share. The company’s revenue was up 13.2% on a year-over-year basis. Research analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Merit Medical Systems 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.