Merit Medical Systems, Inc. (NASDAQ:MMSI) Position Increased by Point72 DIFC Ltd

Point72 DIFC Ltd raised its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 1,236.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 84,658 shares of the medical instruments supplier’s stock after acquiring an additional 78,323 shares during the period. Point72 DIFC Ltd’s holdings in Merit Medical Systems were worth $8,367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MMSI. Van ECK Associates Corp acquired a new stake in shares of Merit Medical Systems during the third quarter worth $718,000. Fisher Asset Management LLC raised its holdings in Merit Medical Systems by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier’s stock worth $21,910,000 after buying an additional 6,837 shares during the period. Natixis Advisors LLC lifted its stake in Merit Medical Systems by 10.8% during the second quarter. Natixis Advisors LLC now owns 66,535 shares of the medical instruments supplier’s stock valued at $5,719,000 after buying an additional 6,487 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Merit Medical Systems by 3.1% in the second quarter. Raymond James & Associates now owns 129,024 shares of the medical instruments supplier’s stock worth $11,090,000 after buying an additional 3,933 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Merit Medical Systems by 32.7% in the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier’s stock worth $104,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Trading Down 0.0 %

Shares of NASDAQ MMSI opened at $104.82 on Wednesday. The business has a 50 day simple moving average of $99.26 and a 200 day simple moving average of $92.10. Merit Medical Systems, Inc. has a 52 week low of $65.46 and a 52 week high of $106.87. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 51.38, a PEG ratio of 2.60 and a beta of 0.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

Merit Medical Systems (NASDAQ:MMSI) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.61%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, research analysts predict that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Wells Fargo & Company raised their target price on Merit Medical Systems from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Barrington Research reissued an “outperform” rating and set a $114.00 price target on shares of Merit Medical Systems in a research report on Thursday, October 31st. Robert W. Baird raised their price objective on Merit Medical Systems from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $109.00 target price on shares of Merit Medical Systems in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and an average target price of $103.36.

Insiders Place Their Bets

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

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.