Point72 Europe London LLP Has $12.68 Million Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Point72 Europe London LLP boosted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 162.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 147,500 shares of the medical instruments supplier’s stock after buying an additional 91,400 shares during the quarter. Point72 Europe London LLP’s holdings in Merit Medical Systems were worth $12,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Congress Asset Management Co. MA lifted its holdings in Merit Medical Systems by 4,411.3% during the 1st quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after purchasing an additional 506,992 shares during the last quarter. Norges Bank acquired a new position in shares of Merit Medical Systems in the fourth quarter valued at approximately $38,165,000. Point72 Asset Management L.P. lifted its holdings in Merit Medical Systems by 147.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 634,613 shares of the medical instruments supplier’s stock worth $54,545,000 after purchasing an additional 377,851 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Merit Medical Systems by 818.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 278,452 shares of the medical instruments supplier’s stock valued at $21,151,000 after purchasing an additional 248,140 shares during the period. Finally, F M Investments LLC acquired a new position in Merit Medical Systems in the 2nd quarter valued at $12,550,000. 99.66% of the stock is owned by institutional investors.

Merit Medical Systems Stock Down 0.4 %

NASDAQ MMSI opened at $99.60 on Wednesday. The business has a fifty day moving average price of $92.26 and a two-hundred day moving average price of $83.56. The stock has a market capitalization of $5.80 billion, a PE ratio of 57.24, a PEG ratio of 2.52 and a beta of 0.87. Merit Medical Systems, Inc. has a fifty-two week low of $62.58 and a fifty-two week high of $101.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 6.24 and a quick ratio of 4.64.

Merit Medical Systems (NASDAQ:MMSI) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $338.00 million during the quarter, compared to the consensus estimate of $334.94 million. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. Equities analysts expect that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current fiscal year.

Insider Transactions at Merit Medical Systems

In related news, Director F. Ann Millner sold 12,500 shares of Merit Medical Systems stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,062,500.00. Following the sale, the director now directly owns 32,391 shares of the company’s stock, valued at approximately $2,753,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MMSI shares. Wells Fargo & Company boosted their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Bank of America boosted their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Robert W. Baird assumed coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They set an “outperform” rating and a $96.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (up from $100.00) on shares of Merit Medical Systems in a research note on Monday, September 9th. Finally, StockNews.com lowered Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 18th. Three 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $101.82.

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.