Edgestream Partners L.P. Has $4.20 Million Stock Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Edgestream Partners L.P. cut its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 40.8% in the 1st quarter, according to the company in 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MMSI. Avantax Advisory Services Inc. increased its stake in shares of Merit Medical Systems by 4.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier's stock valued at $227,000 after acquiring an additional 103 shares during the period. MeadowBrook Investment Advisors LLC increased its stake in shares of Merit Medical Systems by 5.9% during the first quarter. MeadowBrook Investment Advisors LLC now owns 3,065 shares of the medical instruments supplier's stock valued at $324,000 after acquiring an additional 170 shares during the period. Summit Investment Advisors Inc. grew its position in Merit Medical Systems by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,987 shares of the medical instruments supplier's stock worth $579,000 after buying an additional 190 shares during the last quarter. Blue Trust Inc. grew its position in Merit Medical Systems by 15.9% in the first quarter. Blue Trust Inc. now owns 1,529 shares of the medical instruments supplier's stock worth $162,000 after buying an additional 210 shares during the last quarter. Finally, Xponance Inc. grew its position 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 worth $496,000 after buying an additional 214 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, CEO Fred P. Lampropoulos sold 400 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $95.61, for a total value of $38,244.00. Following the completion of the sale, the chief executive officer owned 1,045,628 shares in the company, valued at $99,972,493.08. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director F. Ann Millner sold 21,250 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $96.47, for a total transaction of $2,049,987.50. Following the sale, the director owned 34,543 shares of the company's stock, valued at approximately $3,332,363.21. This represents a 38.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,596 shares of company stock valued at $8,171,433. 3.20% of the stock is owned by company insiders.

Merit Medical Systems Trading Down 1.8%

NASDAQ MMSI traded down $1.52 during trading hours on Friday, hitting $83.02. The company's stock had a trading volume of 532,421 shares, compared to its average volume of 553,714. The stock has a fifty day moving average of $94.01 and a 200 day moving average of $98.06. Merit Medical Systems, Inc. has a twelve month low of $82.62 and a twelve month high of $111.45. The firm has a market capitalization of $4.91 billion, a P/E ratio of 40.70, a PEG ratio of 2.73 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 (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, beating the consensus estimate of $0.75 by $0.11. Merit Medical Systems had a net margin of 8.81% and a return on equity of 15.52%. The firm had revenue of $355.35 million during the quarter, compared to the consensus estimate of $352.57 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The business's quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MMSI has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $108.00 price objective on shares of Merit Medical Systems in a research note on Friday. Raymond James Financial reduced their price objective on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. 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. Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 price objective (up previously from $106.00) on shares of Merit Medical Systems in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They issued an "overweight" rating and a $120.00 price objective for the company. Two investment 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $109.11.

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.