Iron Triangle Partners LP Has $39.37 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Iron Triangle Partners LP boosted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 60.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 407,022 shares of the medical instruments supplier's stock after acquiring an additional 154,022 shares during the period. Merit Medical Systems accounts for about 4.3% of Iron Triangle Partners LP's portfolio, making the stock its 10th biggest position. Iron Triangle Partners LP owned about 0.70% of Merit Medical Systems worth $39,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its stake 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 worth $2,728,000 after acquiring an additional 100 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of Merit Medical Systems by 4.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier's stock valued at $227,000 after purchasing an additional 103 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Merit Medical Systems by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier's stock valued at $1,632,000 after purchasing an additional 137 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Merit Medical Systems by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,987 shares of the medical instruments supplier's stock valued at $579,000 after purchasing an additional 190 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Merit Medical Systems by 4.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,809 shares of the medical instruments supplier's stock valued at $562,000 after purchasing an additional 231 shares in the last quarter. Institutional investors own 99.66% of the company's stock.

Insider Transactions at Merit Medical Systems

In other news, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the transaction, the insider now directly owns 38,993 shares of the company's stock, valued at approximately $3,879,803.50. This trade represents a 39.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the completion of the transaction, the director now directly owns 4,657 shares of the company's stock, valued at approximately $490,428.67. This trade represents a 51.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,132 shares of company stock valued at $11,139,521. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

MMSI has been the topic of a number of research analyst reports. Raymond James reduced 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 reduced their target price on Merit Medical Systems from $127.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Robert W. Baird reduced their target price on Merit Medical Systems from $111.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Needham & Company LLC cut their price objective on Merit Medical Systems from $116.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler cut their price objective on Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Two equities research 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 stock. According to data from MarketBeat.com, Merit Medical Systems has an average rating of "Moderate Buy" and a consensus target price of $107.78.

Merit Medical Systems Trading Down 0.8%

Shares of MMSI stock traded down $0.81 during mid-day trading on Wednesday, hitting $96.80. The company's stock had a trading volume of 51,464 shares, compared to its average volume of 511,535. The company's fifty day simple moving average is $96.79 and its 200-day simple moving average is $100.54. Merit Medical Systems, Inc. has a 52 week low of $80.02 and a 52 week high of $111.45. 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 $5.72 billion, a PE ratio of 47.45, a P/E/G ratio of 2.34 and a beta of 0.70.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $355.35 million during the quarter, compared to analyst estimates of $352.57 million. During the same period last year, the company posted $0.77 EPS. The business's quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts expect that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current fiscal year.

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.