Angeles Wealth Management LLC Grows Stock Position in Merit Medical Systems, Inc. $MMSI

Angeles Wealth Management LLC raised its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 13.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,351 shares of the medical instruments supplier’s stock after purchasing an additional 285 shares during the period. Angeles Wealth Management LLC’s holdings in Merit Medical Systems were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMSI. GAMMA Investing LLC lifted its holdings in Merit Medical Systems by 31.1% in the 1st quarter. GAMMA Investing LLC now owns 1,959 shares of the medical instruments supplier’s stock valued at $207,000 after purchasing an additional 465 shares in the last quarter. SG Americas Securities LLC purchased a new position in Merit Medical Systems in the 1st quarter valued at about $294,000. Sowell Financial Services LLC purchased a new position in Merit Medical Systems in the 1st quarter valued at about $434,000. QRG Capital Management Inc. lifted its holdings in Merit Medical Systems by 10.1% in the 1st quarter. QRG Capital Management Inc. now owns 8,932 shares of the medical instruments supplier’s stock valued at $944,000 after purchasing an additional 817 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Merit Medical Systems by 15.9% in the 1st quarter. Blue Trust Inc. now owns 1,529 shares of the medical instruments supplier’s stock valued at $162,000 after purchasing an additional 210 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on MMSI shares. Raymond James Financial reduced their target price 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 reiterated a “buy” rating and set a $108.00 price objective on shares of Merit Medical Systems in a report on Friday, July 18th. Canaccord Genuity Group increased their price objective on shares of Merit Medical Systems from $103.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler cut their price objective 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. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Merit Medical Systems in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Insider Transactions at Merit Medical Systems

In related news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $88.56, for a total transaction of $265,680.00. Following the completion of the sale, the director owned 12,809 shares of the company’s stock, valued at approximately $1,134,365.04. This represents a 18.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.20% of the company’s stock.

Merit Medical Systems Stock Up 1.3%

MMSI opened at $81.86 on Friday. The firm has a 50 day moving average price of $85.40 and a 200 day moving average price of $89.91. The company has a market cap of $4.85 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 2.63 and a beta of 0.58. Merit Medical Systems, Inc. has a 1 year low of $78.12 and a 1 year high of $111.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $382.46 million during the quarter, compared to the consensus estimate of $372.47 million. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Sell-side analysts expect 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.