SG Americas Securities LLC Cuts Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

SG Americas Securities LLC reduced its position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 84.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,132 shares of the medical instruments supplier's stock after selling 11,314 shares during the period. SG Americas Securities LLC's holdings in Merit Medical Systems were worth $162,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Diversified Trust Co raised its position in shares of Merit Medical Systems by 5.6% in the 4th quarter. Diversified Trust Co now owns 10,716 shares of the medical instruments supplier's stock valued at $814,000 after purchasing an additional 566 shares during the last quarter. Tompkins Financial Corp purchased a new position in shares of Merit Medical Systems in the 4th quarter valued at approximately $38,000. Valued Wealth Advisors LLC purchased a new position in shares of Merit Medical Systems in the 4th quarter valued at approximately $29,000. Public Employees Retirement System of Ohio raised its position in shares of Merit Medical Systems by 69.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 103,099 shares of the medical instruments supplier's stock valued at $7,116,000 after purchasing an additional 42,191 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Merit Medical Systems by 2.7% during the 3rd quarter. Deutsche Bank AG now owns 70,864 shares of the medical instruments supplier's stock worth $4,891,000 after buying an additional 1,867 shares during the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Merit Medical Systems

In related news, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction on Monday, March 4th. The shares were sold at an average price of $76.03, for a total value of $1,380,476.71. Following the sale, the director now owns 19,257 shares of the company's stock, valued at approximately $1,464,109.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Merit Medical Systems news, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $73.95, for a total transaction of $479,196.00. Following the sale, the chief financial officer now owns 12,007 shares of the company's stock, valued at approximately $887,917.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas James Gunderson sold 18,157 shares of Merit Medical Systems stock in a transaction on Monday, March 4th. The stock was sold at an average price of $76.03, for a total transaction of $1,380,476.71. Following the sale, the director now directly owns 19,257 shares in the company, valued at approximately $1,464,109.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,637 shares of company stock valued at $5,351,673. 3.70% of the stock is owned by company insiders.

Merit Medical Systems Stock Performance

Shares of NASDAQ MMSI traded up $0.79 during midday trading on Tuesday, reaching $72.75. 174,911 shares of the stock were exchanged, compared to its average volume of 506,314. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 2.02 and a beta of 0.89. Merit Medical Systems, Inc. has a twelve month low of $62.58 and a twelve month high of $85.62. The firm has a 50-day simple moving average of $75.65 and a two-hundred day simple moving average of $73.47. The company has a quick ratio of 3.95, a current ratio of 5.45 and a debt-to-equity ratio of 0.68.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.04. Merit Medical Systems had a net margin of 7.51% and a return on equity of 14.63%. The firm had revenue of $324.52 million for the quarter, compared to analysts' expectations of $320.66 million. During the same quarter last year, the company earned $0.79 EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MMSI. Canaccord Genuity Group raised their price target on shares of Merit Medical Systems from $102.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. Bank of America began coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They set a "neutral" rating and a $87.00 price target for the company. Needham & Company LLC reissued a "buy" rating and set a $88.00 price target on shares of Merit Medical Systems in a research report on Thursday, April 11th. CL King began coverage on shares of Merit Medical Systems in a research report on Thursday, April 11th. They set a "buy" rating and a $88.00 price target for the company. Finally, Piper Sandler raised their price target on shares of Merit Medical Systems from $88.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $92.50.

Merit Medical Systems Company 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.