Emerald Mutual Fund Advisers Trust Decreases Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Emerald Mutual Fund Advisers Trust reduced its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 188,750 shares of the medical instruments supplier's stock after selling 10,390 shares during the quarter. Merit Medical Systems comprises approximately 1.4% of Emerald Mutual Fund Advisers Trust's investment portfolio, making the stock its 20th largest position. Emerald Mutual Fund Advisers Trust owned about 0.32% of Merit Medical Systems worth $19,953,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MMSI. Xponance Inc. increased its stake in shares of Merit Medical Systems by 4.8% in the 1st quarter. Xponance Inc. now owns 4,689 shares of the medical instruments supplier's stock worth $496,000 after acquiring an additional 214 shares during the last quarter. Significant Wealth Partners LLC increased its stake 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 worth $500,000 after acquiring an additional 705 shares during the last quarter. MeadowBrook Investment Advisors LLC increased its stake 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 worth $324,000 after acquiring an additional 170 shares during the last quarter. EULAV Asset Management increased its stake in shares of Merit Medical Systems by 1.7% in the 1st quarter. EULAV Asset Management now owns 117,000 shares of the medical instruments supplier's stock worth $12,368,000 after acquiring an additional 2,000 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of 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 worth $224,000 after purchasing an additional 387 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock opened at $93.49 on Friday. The business has a 50-day moving average of $94.70 and a 200 day moving average of $98.39. 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 stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 45.83, a price-to-earnings-growth ratio of 3.08 and a beta of 0.65. Merit Medical Systems, Inc. has a 12 month low of $82.62 and a 12 month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.11. The business had revenue of $355.35 million during the quarter, compared to analysts' expectations of $352.57 million. Merit Medical Systems had a return on equity of 15.52% and a net margin of 8.81%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. As a group, sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Insiders Place Their Bets

In other 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 owned 4,880 shares in the company, valued at approximately $459,500.80. This trade represents a 41.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Mcdonnell sold 1,750 shares of Merit Medical Systems stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $94.51, for a total value of $165,392.50. Following the completion of the transaction, the director owned 6,395 shares of the company's stock, valued at $604,391.45. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,596 shares of company stock worth $8,171,433. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MMSI shares. Wells Fargo & Company reiterated an "overweight" rating and set a $108.00 price target (up from $106.00) on shares of Merit Medical Systems in a report on Wednesday, May 21st. Barrington Research lowered their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the stock a "buy" rating in a report on Wednesday, May 21st. Robert W. Baird lowered their price target on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $108.00 price target on shares of Merit Medical Systems in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $109.11.

Merit Medical Systems Company 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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