Two Sigma Investments LP Trims Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Two Sigma Investments LP trimmed its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,841 shares of the medical instruments supplier's stock after selling 91,897 shares during the quarter. Two Sigma Investments LP owned approximately 0.48% of Merit Medical Systems worth $26,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. NewSquare Capital LLC bought a new position in Merit Medical Systems during the 4th quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC bought a new position in Merit Medical Systems during the 4th quarter worth approximately $52,000. Federated Hermes Inc. grew its position in Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after acquiring an additional 381 shares during the last quarter. Group One Trading LLC bought a new position in Merit Medical Systems during the 4th quarter worth approximately $77,000. Finally, Smartleaf Asset Management LLC grew its position in Merit Medical Systems by 237.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock worth $134,000 after acquiring an additional 977 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Raul Jr. Parra sold 12,451 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the completion of the transaction, the chief financial officer now owns 24,201 shares in the company, valued at $2,391,300.81. The trade was a 33.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director F. Ann Millner sold 21,250 shares of the business's stock in a transaction 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 transaction, the director now owns 34,543 shares of the company's stock, valued at $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 three months, insiders have sold 130,382 shares of company stock valued at $13,189,508. 3.20% of the stock is currently owned by corporate insiders.

Merit Medical Systems Stock Up 0.3%

Shares of MMSI traded up $0.27 on Friday, reaching $95.38. The stock had a trading volume of 401,921 shares, compared to its average volume of 520,920. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 46.76, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70. 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 50-day simple moving average of $96.52 and a 200-day simple moving average of $100.49. Merit Medical Systems, Inc. has a 12-month low of $80.02 and a 12-month high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $355.35 million during the quarter, compared to analysts' expectations of $352.57 million. During the same quarter last year, the business posted $0.77 EPS. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Analysts Set New Price Targets

MMSI has been the subject of several research analyst reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $108.00 price objective (up previously from $106.00) on shares of Merit Medical Systems in a report on Wednesday. Needham & Company LLC increased their price objective on Merit Medical Systems from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Robert W. Baird dropped their price objective 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. Piper Sandler increased their price objective on Merit Medical Systems from $106.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Canaccord Genuity Group increased their price objective on Merit Medical Systems from $108.00 to $112.00 and gave the stock a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Merit Medical Systems has a consensus rating of "Moderate Buy" and an average 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.