Two Sigma Advisers LP Reduces Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Two Sigma Advisers LP reduced its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 23.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,700 shares of the medical instruments supplier's stock after selling 104,800 shares during the quarter. Two Sigma Advisers LP owned about 0.58% of Merit Medical Systems worth $32,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Merit Medical Systems in the fourth quarter valued at about $66,638,000. Raymond James Financial Inc. acquired a new position in Merit Medical Systems in the 4th quarter valued at about $48,926,000. FMR LLC raised its stake in 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 last quarter. Groupama Asset Managment acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $38,688,000. Finally, Bryn Mawr Capital Management LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth approximately $36,057,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $98.81 on Wednesday. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 52-week low of $80.02 and a 52-week high of $111.45. The company has a 50-day simple moving average of $96.77 and a 200-day simple moving average of $100.58. The company has a market capitalization of $5.84 billion, a PE ratio of 48.44, a P/E/G ratio of 2.34 and a beta of 0.70.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last issued its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $355.35 million during the quarter, compared to analysts' expectations of $352.57 million. During the same period last year, the company posted $0.77 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts predict that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Merit Medical Systems news, 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 completion of the transaction, the director now directly owns 4,657 shares in the company, valued at approximately $490,428.67. This trade represents a 51.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director F. Ann Millner sold 21,250 shares of Merit Medical Systems 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 transaction, the director now owns 34,543 shares of the company's stock, 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 ninety days, insiders have sold 130,382 shares of company stock worth $13,189,508. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Raymond James dropped 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 dropped their price objective on shares of Merit Medical Systems from $127.00 to $108.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Piper Sandler cut their price objective on shares of Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a report on Friday, March 28th. They issued an "overweight" rating and a $120.00 target price on the stock. Finally, Robert W. Baird cut their price target on shares of Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Merit Medical Systems has an average rating of "Moderate Buy" and a consensus price target of $108.67.

Merit Medical Systems 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.

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