M&T Bank Corp Acquires 6,287 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

M&T Bank Corp boosted its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 17.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,045 shares of the medical instruments supplier's stock after purchasing an additional 6,287 shares during the quarter. M&T Bank Corp owned approximately 0.07% of Merit Medical Systems worth $3,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MMSI. Norges Bank bought a new position in shares of Merit Medical Systems during the fourth quarter worth $37,702,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Merit Medical Systems by 68.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,247,657 shares of the medical instruments supplier's stock valued at $88,110,000 after purchasing an additional 508,234 shares during the last quarter. Morgan Stanley grew its position in shares of Merit Medical Systems by 108.7% during the fourth quarter. Morgan Stanley now owns 875,581 shares of the medical instruments supplier's stock valued at $61,834,000 after purchasing an additional 456,031 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Merit Medical Systems by 6.0% in the third quarter. Vanguard Group Inc. now owns 6,700,655 shares of the medical instruments supplier's stock worth $378,653,000 after purchasing an additional 377,858 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Merit Medical Systems by 621.9% in the first quarter. Envestnet Asset Management Inc. now owns 397,116 shares of the medical instruments supplier's stock worth $3,685,000 after purchasing an additional 342,104 shares during the last quarter. Institutional investors own 93.16% of the company's stock.

MMSI opened at $65.91 on Tuesday. The business has a fifty day moving average of $76.44 and a 200 day moving average of $76.60. The stock has a market cap of $3.80 billion, a P/E ratio of 42.25, a PEG ratio of 2.03 and a beta of 0.96. The company has a quick ratio of 1.52, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. Merit Medical Systems, Inc. has a 52-week low of $52.79 and a 52-week high of $85.62.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Tuesday, July 25th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. Merit Medical Systems had a net margin of 7.48% and a return on equity of 14.60%. The firm had revenue of $320.06 million during the quarter, compared to analyst estimates of $310.10 million. During the same period in the previous year, the firm earned $0.73 earnings per share. The business's revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 2.88 EPS for the current year.

Several research firms have weighed in on MMSI. Barrington Research restated an "outperform" rating and set a $95.00 price target on shares of Merit Medical Systems in a report on Wednesday, August 16th. Raymond James upped their target price on shares of Merit Medical Systems from $88.00 to $93.00 in a research report on Monday, May 8th. Piper Sandler lifted their price target on Merit Medical Systems from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, July 21st. Canaccord Genuity Group cut their target price on Merit Medical Systems from $86.00 to $70.00 and set a "hold" rating on the stock in a research report on Monday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $96.00 price objective on shares of Merit Medical Systems in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $87.83.

Check Out Our Latest Analysis on Merit Medical Systems

In other Merit Medical Systems news, COO Neil Peterson sold 8,000 shares of the firm's stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $67.91, for a total transaction of $543,280.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director A Scott Anderson sold 22,180 shares of the business's stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $69.40, for a total value of $1,539,292.00. Following the completion of the transaction, the director now owns 49,217 shares of the company's stock, valued at $3,415,659.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Neil Peterson sold 8,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $67.91, for a total value of $543,280.00. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. It operates in two segments, Cardiovascular and Endoscopy. The company provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; 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.

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