Axiom Investors LLC DE Buys 56,709 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Axiom Investors LLC DE increased its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 125.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 101,993 shares of the medical instruments supplier’s stock after purchasing an additional 56,709 shares during the quarter. Axiom Investors LLC DE owned approximately 0.18% of Merit Medical Systems worth $7,747,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Renaissance Group LLC raised its holdings in shares of Merit Medical Systems by 0.6% in the 4th quarter. Renaissance Group LLC now owns 24,550 shares of the medical instruments supplier’s stock worth $1,863,000 after purchasing an additional 144 shares during the period. Parallel Advisors LLC raised its holdings in Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 212 shares during the period. Arizona State Retirement System raised its holdings in Merit Medical Systems by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 16,370 shares of the medical instruments supplier’s stock valued at $1,130,000 after acquiring an additional 236 shares during the period. Diversified Trust Co raised its holdings in Merit Medical Systems by 3.0% during the 3rd quarter. Diversified Trust Co now owns 10,150 shares of the medical instruments supplier’s stock valued at $701,000 after acquiring an additional 292 shares during the period. Finally, Valued Wealth Advisors LLC bought a new stake in Merit Medical Systems during the 4th quarter valued at $29,000. Institutional investors own 99.66% of the company’s stock.

Insider Activity

In related news, CFO Raul Jr. Parra sold 6,480 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at $887,917.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Merit Medical Systems 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 completion of the transaction, the director now directly owns 19,257 shares of the company’s stock, valued at approximately $1,464,109.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Raul Jr. Parra sold 6,480 shares of Merit Medical Systems stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $73.95, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 12,007 shares of the company’s stock, valued at $887,917.65. The disclosure for this sale can be found here. Insiders have sold 49,637 shares of company stock worth $3,751,673 in the last three months. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Bank of America assumed coverage on shares of Merit Medical Systems in a research report on Wednesday, February 7th. They issued a “neutral” rating and a $87.00 target price for the company. Canaccord Genuity Group lowered their price objective on shares of Merit Medical Systems from $112.00 to $102.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Piper Sandler increased their price target on shares of Merit Medical Systems from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Needham & Company LLC cut their price objective on shares of Merit Medical Systems from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Barrington Research upped their price objective on shares of Merit Medical Systems from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Merit Medical Systems has an average rating of “Moderate Buy” and an average price target of $92.78.

Merit Medical Systems Stock Up 0.3 %

MMSI opened at $81.15 on Friday. The company has a current ratio of 6.03, a quick ratio of 4.38 and a debt-to-equity ratio of 0.65. Merit Medical Systems, Inc. has a 1-year low of $62.58 and a 1-year high of $85.62. The company has a market capitalization of $4.72 billion, a PE ratio of 46.64, a PEG ratio of 2.26 and a beta of 0.91. The firm’s 50 day simple moving average is $76.76 and its two-hundred day simple moving average is $75.94.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Tuesday, April 30th. The medical instruments supplier reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. The firm had revenue of $323.51 million for the quarter, compared to the consensus estimate of $315.57 million. Merit Medical Systems had a net margin of 7.94% and a return on equity of 15.02%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. As a group, equities analysts forecast that Merit Medical Systems, Inc. will post 3.33 EPS for the current year.

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.