CWC Advisors LLC. Makes New Investment in Merit Medical Systems, Inc. (NASDAQ:MMSI)

CWC Advisors LLC. bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,423 shares of the medical instruments supplier’s stock, valued at approximately $437,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Merit Medical Systems during the 2nd quarter worth $29,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Merit Medical Systems during the first quarter valued at about $44,000. USA Financial Formulas acquired a new position in shares of Merit Medical Systems during the third quarter valued at about $59,000. Headlands Technologies LLC acquired a new position in shares of Merit Medical Systems during the first quarter valued at about $50,000. Finally, GAMMA Investing LLC raised its position in shares of Merit Medical Systems by 142.3% during the second quarter. GAMMA Investing LLC now owns 831 shares of the medical instruments supplier’s stock valued at $71,000 after buying an additional 488 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MMSI shares. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Canaccord Genuity Group upped their price objective on shares of Merit Medical Systems from $102.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Bank of America upped their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Robert W. Baird began coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They issued an “outperform” rating and a $96.00 target price on the stock. Finally, Barrington Research reissued an “outperform” rating and issued a $114.00 target price on shares of Merit Medical Systems in a research note on Friday, October 18th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Merit Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems Price Performance

Shares of MMSI stock opened at $96.00 on Friday. Merit Medical Systems, Inc. has a 1 year low of $63.13 and a 1 year high of $101.60. The firm’s 50 day moving average is $96.11 and its 200-day moving average is $87.05. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 48.00, a PEG ratio of 2.41 and a beta of 0.87. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. The company had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. Sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

About Merit Medical Systems

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.