Glenmede Trust Co. NA Has $2.83 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Glenmede Trust Co. NA raised its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 0.6% during the third quarter, HoldingsChannel.com reports. The fund owned 28,637 shares of the medical instruments supplier’s stock after purchasing an additional 170 shares during the period. Glenmede Trust Co. NA’s holdings in Merit Medical Systems were worth $2,830,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new stake in shares of Merit Medical Systems during the 2nd quarter valued at approximately $29,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Merit Medical Systems during the first quarter worth $44,000. USA Financial Formulas acquired a new position in shares of Merit Medical Systems during the third quarter worth $59,000. GAMMA Investing LLC lifted its stake in shares of Merit Medical Systems by 142.3% in the 2nd quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after acquiring an additional 488 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Merit Medical Systems during the 2nd quarter valued at $77,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Insider Buying and Selling

In related news, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $101.55, for a total transaction of $1,269,375.00. Following the transaction, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. This represents a 27.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Raul Jr. Parra sold 29,646 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $98.02, for a total value of $2,905,900.92. Following the completion of the sale, the chief financial officer now directly owns 16,361 shares of the company’s stock, valued at $1,603,705.22. This trade represents a 64.44 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Merit Medical Systems Stock Up 0.2 %

Shares of NASDAQ:MMSI opened at $103.90 on Friday. Merit Medical Systems, Inc. has a 1 year low of $65.46 and a 1 year high of $106.87. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82. The business’s 50-day moving average is $99.06 and its 200-day moving average is $91.72. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 50.93, a P/E/G ratio of 2.57 and a beta of 0.89.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $339.85 million for the quarter, compared to analyst estimates of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MMSI shares. Wells Fargo & Company upped their target price on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Robert W. Baird raised their price objective on shares of Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $109.00 target price on shares of Merit Medical Systems in a report on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price target (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Finally, StockNews.com cut shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $103.36.

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.