Axiom Investors LLC DE Reduces Holdings 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 reduced its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other institutional investors and hedge funds have also made changes to their positions in MMSI. Opal Wealth Advisors LLC acquired a new position in shares of Merit Medical Systems during the 1st quarter worth approximately $31,000. IFP Advisors Inc boosted its holdings in shares of Merit Medical Systems by 1,435.0% during the 1st quarter. IFP Advisors Inc now owns 307 shares of the medical instruments supplier's stock worth $32,000 after purchasing an additional 287 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Merit Medical Systems by 119.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 367 shares of the medical instruments supplier's stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Merit Medical Systems during the 1st quarter worth approximately $41,000. Finally, Versant Capital Management Inc lifted its holdings in Merit Medical Systems by 1,518.5% in the first quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock valued at $46,000 after acquiring an additional 410 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Merit Medical Systems Stock Down 5.2%

Shares of Merit Medical Systems stock traded down $4.68 during trading hours on Friday, reaching $85.53. 700,190 shares of the company were exchanged, compared to its average volume of 480,356. Merit Medical Systems, Inc. has a 1 year low of $81.04 and a 1 year high of $111.45. The stock's fifty day moving average is $87.85 and its 200 day moving average is $93.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.66 and a current ratio of 4.09. The firm has a market cap of $5.07 billion, a PE ratio of 43.42, a PEG ratio of 3.04 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $372.47 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. The company's revenue was up 13.2% on a year-over-year basis. As a group, equities research analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $88.56, for a total value of $265,680.00. Following the transaction, the director owned 12,809 shares of the company's stock, valued at $1,134,365.04. This represents a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

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.