Merit Medical Systems, Inc. (NASDAQ:MMSI) Stake Decreased by Emerald Advisers LLC

Emerald Advisers LLC cut its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,677 shares of the medical instruments supplier's stock after selling 22,078 shares during the quarter. Merit Medical Systems accounts for 1.3% of Emerald Advisers LLC's holdings, making the stock its 24th largest holding. Emerald Advisers LLC owned approximately 0.48% of Merit Medical Systems worth $29,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MMSI. Xponance Inc. boosted its holdings in Merit Medical Systems by 4.8% in the first quarter. Xponance Inc. now owns 4,689 shares of the medical instruments supplier's stock valued at $496,000 after purchasing an additional 214 shares during the period. Significant Wealth Partners LLC lifted its holdings in shares of Merit Medical Systems by 17.5% in the 1st quarter. Significant Wealth Partners LLC now owns 4,727 shares of the medical instruments supplier's stock valued at $500,000 after purchasing an additional 705 shares during the last quarter. MeadowBrook Investment Advisors LLC lifted its holdings in shares of Merit Medical Systems by 5.9% in the 1st quarter. MeadowBrook Investment Advisors LLC now owns 3,065 shares of the medical instruments supplier's stock valued at $324,000 after purchasing an additional 170 shares during the last quarter. EULAV Asset Management raised its stake in Merit Medical Systems by 1.7% during the 1st quarter. EULAV Asset Management now owns 117,000 shares of the medical instruments supplier's stock valued at $12,368,000 after acquiring an additional 2,000 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in Merit Medical Systems by 22.3% during the 1st quarter. TD Private Client Wealth LLC now owns 2,119 shares of the medical instruments supplier's stock valued at $224,000 after acquiring an additional 387 shares during the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Down 10.3%

NASDAQ MMSI traded down $9.65 during trading hours on Wednesday, hitting $83.95. The company had a trading volume of 3,081,405 shares, compared to its average volume of 550,526. Merit Medical Systems, Inc. has a fifty-two week low of $82.62 and a fifty-two week high of $111.45. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 3.03 and a beta of 0.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.87 and a quick ratio of 3.26. The firm's 50 day moving average is $94.70 and its 200 day moving average is $98.33.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.11. The company had revenue of $355.35 million during the quarter, compared to the consensus estimate of $352.57 million. Merit Medical Systems had a return on equity of 15.52% and a net margin of 8.81%. The company's revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. Sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Floyd sold 3,515 shares of Merit Medical Systems stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $94.16, for a total value of $330,972.40. Following the completion of the transaction, the director directly owned 4,880 shares in the company, valued at approximately $459,500.80. This trade represents a 41.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director F. Ann Millner sold 21,250 shares of Merit Medical Systems stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $96.47, for a total value of $2,049,987.50. Following the completion of the transaction, the director owned 34,543 shares of the company's stock, valued at $3,332,363.21. This trade represents a 38.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,596 shares of company stock valued at $8,171,433. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird dropped their target price on 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. Wells Fargo & Company reiterated an "overweight" rating on shares of Merit Medical Systems in a report on Wednesday. Raymond James Financial lowered their target price on Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a research note on Friday, March 28th. They set an "overweight" rating and a $120.00 price target on the stock. Finally, Barrington Research reduced their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Merit Medical Systems has an average rating of "Moderate Buy" and an average price target of $109.11.

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.