Squarepoint Ops LLC Sells 14,476 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Squarepoint Ops LLC reduced its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,735 shares of the medical instruments supplier's stock after selling 14,476 shares during the quarter. Squarepoint Ops LLC owned 0.13% of Merit Medical Systems worth $7,422,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in Merit Medical Systems during the fourth quarter valued at approximately $66,638,000. Raymond James Financial Inc. purchased a new position in shares of Merit Medical Systems during the 4th quarter worth $48,926,000. FMR LLC grew its position in shares of Merit Medical Systems by 31.6% during the 4th quarter. FMR LLC now owns 2,076,439 shares of the medical instruments supplier's stock valued at $200,833,000 after acquiring an additional 499,193 shares during the period. Groupama Asset Managment purchased a new stake in shares of Merit Medical Systems in the 4th quarter worth $38,688,000. Finally, Bryn Mawr Capital Management LLC bought a new position in Merit Medical Systems in the 4th quarter worth $36,057,000. Hedge funds and other institutional investors own 99.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MMSI shares. Canaccord Genuity Group set a $112.00 price target on Merit Medical Systems and gave the company a "buy" rating in a report on Wednesday, May 21st. Barrington Research lowered their price objective on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Raymond James cut their price objective on 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. Needham & Company LLC raised their target price on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They set an "overweight" rating and a $120.00 price target on the stock. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $109.11.

Merit Medical Systems Price Performance

MMSI traded down $2.07 during trading on Wednesday, reaching $94.43. 615,046 shares of the company traded hands, compared to its average volume of 520,729. Merit Medical Systems, Inc. has a 12-month low of $80.02 and a 12-month high of $111.45. The firm has a fifty day simple moving average of $96.30 and a 200 day simple moving average of $100.40. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. The company has a market cap of $5.58 billion, a P/E ratio of 46.29, a PEG ratio of 2.34 and a beta of 0.70.

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 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The business had revenue of $355.35 million for the quarter, compared to analysts' expectations of $352.57 million. During the same quarter in the previous year, the company earned $0.77 EPS. The business's quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, insider Brian G. Lloyd sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the transaction, the insider now owns 38,993 shares in the company, valued at $3,879,803.50. This trade represents a 39.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director F. Ann Millner sold 21,250 shares of Merit Medical Systems stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $96.47, for a total value of $2,049,987.50. Following the completion of the sale, the director now directly owns 34,543 shares in the company, valued at approximately $3,332,363.21. The trade was a 38.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,382 shares of company stock valued at $13,189,508. 3.70% of the stock is currently owned by 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.