Axiom Investors LLC DE Cuts Stock Position in Merit Medical Systems, Inc. $MMSI

Key Points

• Axiom Investors LLC DE reduced its stake in Merit Medical Systems by 22.7%, now holding 143,726 shares worth approximately $15.19 million.
• Merit Medical's earnings report showed an EPS of $1.01, exceeding the expected $0.85, alongside a revenue increase of 13.2% year-over-year.
• Currently, 99.66% of Merit Medical's stock is owned by hedge funds and institutional investors, reflecting strong institutional interest.

Axiom Investors LLC DE lessened its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 22.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 143,726 shares of the medical instruments supplier's stock after selling 42,292 shares during the period. Axiom Investors LLC DE owned 0.24% of Merit Medical Systems worth $15,193,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. United Services Automobile Association purchased a new stake in Merit Medical Systems in the 1st quarter worth $408,000. Fred Alger Management LLC grew its position in shares of Merit Medical Systems by 22.9% during the first quarter. Fred Alger Management LLC now owns 154,707 shares of the medical instruments supplier's stock valued at $16,354,000 after purchasing an additional 28,793 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Merit Medical Systems by 16.9% during the first quarter. Goldman Sachs Group Inc. now owns 719,313 shares of the medical instruments supplier's stock valued at $76,039,000 after purchasing an additional 103,878 shares in the last quarter. Petrus Trust Company LTA grew its position in shares of Merit Medical Systems by 16.3% during the first quarter. Petrus Trust Company LTA now owns 5,474 shares of the medical instruments supplier's stock valued at $579,000 after purchasing an additional 769 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Merit Medical Systems by 4.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,967 shares of the medical instruments supplier's stock valued at $3,908,000 after purchasing an additional 1,436 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Merit Medical Systems Stock Up 0.9%

Shares of NASDAQ:MMSI opened at $92.97 on Monday. Merit Medical Systems, Inc. has a 1 year low of $81.04 and a 1 year high of $111.45. The business has a 50 day simple moving average of $88.24 and a two-hundred day simple moving average of $93.70. The firm has a market capitalization of $5.51 billion, a PE ratio of 47.19, a price-to-earnings-growth ratio of 3.01 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.09 and a quick ratio of 2.66.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. Merit Medical Systems had a return on equity of 15.07% and a net margin of 8.31%.The business had revenue of $382.46 million during the quarter, compared to analyst estimates of $372.47 million. During the same quarter in the previous year, the business earned $0.92 earnings per share. The company's revenue for the quarter was up 13.2% compared to the same quarter last year. On average, equities analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Merit Medical Systems from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Canaccord Genuity Group set a $112.00 price objective on Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Raymond James Financial cut their price objective on Merit Medical Systems from $108.00 to $102.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Barrington Research reiterated an "outperform" rating and issued a $103.00 price target on shares of Merit Medical Systems in a research report on Thursday, July 31st. Finally, Wells Fargo & Company dropped their price target on Merit Medical Systems from $108.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and an average price target of $107.00.

Insider Activity at Merit Medical Systems

In related news, CEO Fred P. Lampropoulos sold 400 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $95.61, for a total value of $38,244.00. Following the completion of the sale, the chief executive officer owned 1,045,628 shares in the company, valued at approximately $99,972,493.08. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Raul Jr. Parra sold 15,181 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $93.75, for a total value of $1,423,218.75. Following the completion of the sale, the chief financial officer owned 24,201 shares of the company's stock, valued at $2,268,843.75. The trade was a 38.55% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,014 shares of company stock worth $1,933,680. Company insiders own 3.70% of the company's stock.

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.

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