Edgestream Partners L.P. Sells 27,363 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Edgestream Partners L.P. trimmed its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 40.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,753 shares of the medical instruments supplier's stock after selling 27,363 shares during the period. Edgestream Partners L.P. owned approximately 0.07% of Merit Medical Systems worth $4,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems during the 1st quarter valued at $31,000. Versant Capital Management Inc grew its stake 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 purchasing an additional 410 shares in the last quarter. Federated Hermes Inc. increased its position in Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after purchasing an additional 381 shares during the last quarter. Group One Trading LLC purchased a new stake in shares of Merit Medical Systems during the 4th quarter worth about $77,000. Finally, Blue Trust Inc. lifted its holdings in shares of Merit Medical Systems by 15.9% during the 1st quarter. Blue Trust Inc. now owns 1,529 shares of the medical instruments supplier's stock valued at $162,000 after buying an additional 210 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Trading Up 0.6%

Shares of Merit Medical Systems stock traded up $0.48 during trading on Thursday, reaching $84.43. 522,768 shares of the company were exchanged, compared to its average volume of 550,517. The business has a 50-day moving average price of $94.50 and a 200-day moving average price of $98.23. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 41.39, a P/E/G ratio of 3.03 and a beta of 0.65. The company has a quick ratio of 3.26, a current ratio of 4.87 and a debt-to-equity ratio of 0.51. Merit Medical Systems, Inc. has a twelve month low of $82.62 and a twelve month high of $111.45.

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

Analyst Upgrades and Downgrades

MMSI has been the topic of several recent research reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Merit Medical Systems in a research report on Wednesday. Robert W. Baird reduced their price objective on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Raymond James Financial cut 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. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, Barrington Research cut their price objective 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Merit Medical Systems currently has a consensus rating of "Moderate Buy" and an average target price of $109.11.

Insider Buying and Selling at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 15,181 shares of Merit Medical Systems 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 transaction, the chief financial officer owned 24,201 shares of the company's stock, valued at approximately $2,268,843.75. The trade was a 38.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Floyd sold 3,515 shares of the company's 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 transaction, the director directly owned 4,880 shares of the company's stock, valued at $459,500.80. This represents a 41.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,596 shares of company stock worth $8,171,433 in the last three months. 3.20% of the stock is owned by insiders.

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.