Axecap Investments LLC Takes Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Axecap Investments LLC purchased a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,304 shares of the medical instruments supplier's stock, valued at approximately $2,781,000. Merit Medical Systems makes up about 2.4% of Axecap Investments LLC's holdings, making the stock its 19th biggest position.

Other large investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its position in shares of Merit Medical Systems by 4.6% in the first quarter. Handelsbanken Fonder AB now owns 227,209 shares of the medical instruments supplier's stock worth $24,018,000 after purchasing an additional 10,000 shares during the last quarter. SG Americas Securities LLC purchased a new position in Merit Medical Systems in the 1st quarter worth approximately $294,000. GAMMA Investing LLC increased its holdings in shares of 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 worth $207,000 after buying an additional 465 shares during the last quarter. Portside Wealth Group LLC raised its position in shares of Merit Medical Systems by 10.1% during the 1st quarter. Portside Wealth Group LLC now owns 3,616 shares of the medical instruments supplier's stock valued at $382,000 after buying an additional 331 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Merit Medical Systems by 18.8% during the 1st quarter. Park Avenue Securities LLC now owns 5,719 shares of the medical instruments supplier's stock valued at $605,000 after buying an additional 907 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MMSI shares. Needham & Company LLC upped their price objective on shares of Merit Medical Systems from $100.00 to $108.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Robert W. Baird reduced their price target on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a report on Friday, March 28th. They issued an "overweight" rating and a $120.00 price objective for the company. Raymond James dropped their target price on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 target price (up from $106.00) on shares of Merit Medical Systems in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and an average price target of $109.11.

Merit Medical Systems Stock Down 0.6%

MMSI stock traded down $0.53 during trading on Friday, hitting $93.06. 427,920 shares of the company's stock traded hands, compared to its average volume of 652,113. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $5.50 billion, a P/E ratio of 45.57, a PEG ratio of 2.34 and a beta of 0.66. The business has a fifty day simple moving average of $94.42 and a two-hundred day simple moving average of $99.67. Merit Medical Systems, Inc. has a 1 year low of $80.02 and a 1 year high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.11. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The firm had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. During the same quarter in the previous year, the firm earned $0.77 EPS. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Buying and Selling at Merit Medical Systems

In other news, CEO Fred P. Lampropoulos sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $96.54, for a total transaction of $1,930,800.00. Following the sale, the chief executive officer now owns 1,066,028 shares of the company's stock, valued at $102,914,343.12. This trade represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael R. Mcdonnell sold 1,750 shares of Merit Medical Systems stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $94.30, for a total transaction of $165,025.00. Following the transaction, the director now directly owns 8,145 shares of the company's stock, valued at approximately $768,073.50. This trade represents a 17.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,415 shares of company stock worth $6,748,214. 3.20% of the stock is owned by insiders.

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.