Squarepoint Ops LLC Cuts Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Squarepoint Ops LLC lowered its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 15.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 76,735 shares of the medical instruments supplier's stock after selling 14,476 shares during the period. Squarepoint Ops LLC owned about 0.13% of Merit Medical Systems worth $7,422,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MMSI. Louisiana State Employees Retirement System increased its position in Merit Medical Systems by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier's stock valued at $2,728,000 after purchasing an additional 100 shares during the period. Avantax Advisory Services Inc. increased its position 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 worth $227,000 after buying an additional 103 shares during the period. Arizona State Retirement System raised its stake in Merit Medical Systems by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier's stock worth $1,632,000 after buying an additional 137 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings 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 valued at $579,000 after buying an additional 190 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Merit Medical Systems by 4.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,809 shares of the medical instruments supplier's stock valued at $562,000 after acquiring an additional 231 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company's stock.

Merit Medical Systems Stock Up 1.2%

Shares of MMSI traded up $1.12 during trading hours on Tuesday, reaching $96.50. The stock had a trading volume of 376,501 shares, compared to its average volume of 520,342. The firm has a 50-day simple moving average of $96.39 and a 200 day simple moving average of $100.43. Merit Medical Systems, Inc. has a 12 month low of $80.02 and a 12 month high of $111.45. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 47.30, a P/E/G ratio of 2.34 and a beta of 0.70.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $355.35 million for the quarter, compared to analyst estimates of $352.57 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler reissued an "overweight" rating and issued a $110.00 price objective (up from $106.00) on shares of Merit Medical Systems in a research report on Friday. Robert W. Baird lowered their target price 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. Needham & Company LLC increased their price target on Merit Medical Systems from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Raymond James 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 report on Friday, April 25th. Finally, Canaccord Genuity Group set a $112.00 target price on shares of Merit Medical Systems and gave the company a "buy" rating in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Merit Medical Systems has a consensus rating of "Moderate Buy" and an average price target of $109.11.

Insider Activity

In other news, CEO Fred P. Lampropoulos sold 31,320 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the completion of the sale, the chief executive officer now owns 1,086,028 shares in the company, valued at $112,794,868.08. This represents a 2.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $105.31, for a total transaction of $526,550.00. Following the transaction, the director now directly owns 4,657 shares in the company, valued at $490,428.67. The trade was a 51.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 130,382 shares of company stock worth $13,189,508 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

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.