Dimensional Fund Advisors LP Lowers Stock Holdings in Merit Medical Systems, Inc. $MMSI

Key Points

• Dimensional Fund Advisors LP reduced its stake in Merit Medical Systems by 2.8%, now holding 1,150,386 shares valued at approximately $121.6 million.
• Various institutional investors increased their positions, with Opal Wealth Advisors acquiring a new stake worth around $31,000 and IFP Advisors Inc lifting its stake by a staggering 1,435.0%.
• Merit Medical Systems reported earnings of $1.01 per share for the quarter, exceeding estimates, with revenue rising 13.2% year-over-year to $382.46 million.

Dimensional Fund Advisors LP lessened its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,150,386 shares of the medical instruments supplier's stock after selling 32,871 shares during the quarter. Dimensional Fund Advisors LP owned 1.95% of Merit Medical Systems worth $121,602,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MMSI. Opal Wealth Advisors LLC purchased a new position in Merit Medical Systems during the first quarter worth about $31,000. IFP Advisors Inc grew its position in Merit Medical Systems by 1,435.0% in 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 in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Merit Medical Systems in the 1st quarter worth approximately $41,000. Versant Capital Management Inc boosted its stake in shares of Merit Medical Systems by 1,518.5% in the 1st quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock worth $46,000 after buying an additional 410 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of Merit Medical Systems in the 1st quarter worth approximately $60,000. 99.66% of the stock is owned by institutional investors.

Insider Transactions at Merit Medical Systems

In other news, Director Michael R. Mcdonnell sold 1,750 shares of the 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 sale, the director directly owned 6,395 shares of the company's stock, valued at approximately $604,391.45. This represents a 21.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $88.56, for a total transaction of $265,680.00. Following the completion of the sale, the director directly owned 12,809 shares in the company, valued at approximately $1,134,365.04. The trade was a 18.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,779 shares of company stock valued at $4,662,863. Company insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of 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 reduced their price target on shares of 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 restated an "outperform" rating and set a $103.00 price target on shares of Merit Medical Systems in a research report on Thursday, July 31st. Needham & Company LLC restated a "buy" rating and set a $108.00 price target on shares of Merit Medical Systems in a research report on Friday, July 18th. Finally, Canaccord Genuity Group set a $112.00 price target on shares of 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.00.

Merit Medical Systems Stock Performance

NASDAQ MMSI traded up $1.73 during trading on Wednesday, hitting $90.79. 608,261 shares of the company's stock traded hands, compared to its average volume of 566,393. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 46.09, a PEG ratio of 2.89 and a beta of 0.66. Merit Medical Systems, Inc. has a 12-month low of $81.04 and a 12-month high of $111.45. 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 business has a 50 day moving average of $88.49 and a 200-day moving average of $94.72.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $382.46 million for the quarter, compared to the consensus estimate of $372.47 million. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The company's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

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.