Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd boosted its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1,236.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,658 shares of the medical instruments supplier’s stock after buying an additional 78,323 shares during the quarter. Point72 DIFC Ltd owned 0.15% of Merit Medical Systems worth $8,367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMSI. American Century Companies Inc. lifted its stake in shares of Merit Medical Systems by 2.9% in the second quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 118 shares in the last quarter. Xponance Inc. raised its position in shares of Merit Medical Systems by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock valued at $311,000 after purchasing an additional 170 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Merit Medical Systems by 0.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 28,637 shares of the medical instruments supplier’s stock valued at $2,830,000 after buying an additional 170 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Merit Medical Systems by 2.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier’s stock valued at $735,000 after buying an additional 187 shares during the last quarter. Finally, Hancock Whitney Corp grew its position in shares of Merit Medical Systems by 2.7% during the third quarter. Hancock Whitney Corp now owns 8,122 shares of the medical instruments supplier’s stock worth $803,000 after buying an additional 214 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Merit Medical Systems

In other news, CFO Raul Jr. Parra sold 29,646 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the sale, the chief financial officer now owns 16,361 shares of the company’s stock, valued at approximately $1,603,705.22. The trade was a 64.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $101.55, for a total value of $1,269,375.00. Following the completion of the sale, the director now owns 32,391 shares of the company’s stock, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Merit Medical Systems Stock Down 0.0 %

MMSI stock opened at $104.82 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. The firm’s 50-day simple moving average is $99.26 and its 200 day simple moving average is $92.10. The stock has a market cap of $6.11 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 2.60 and a beta of 0.84. Merit Medical Systems, Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $106.87.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $339.85 million for the quarter, compared to analysts’ expectations of $334.60 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Merit Medical Systems, Inc. will post 3.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $109.00 price objective on shares of Merit Medical Systems in a research note on Thursday, October 31st. Bank of America increased their price target on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Robert W. Baird boosted their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of “Moderate Buy” and an average price target of $103.36.

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.