Point72 Asia Singapore Pte. Ltd. Trims Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Point72 Asia Singapore Pte. Ltd. lowered its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 67.6% in the second quarter, HoldingsChannel reports. The firm owned 1,832 shares of the medical instruments supplier’s stock after selling 3,820 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Merit Medical Systems were worth $157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of Merit Medical Systems by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 4,216 shares of the medical instruments supplier’s stock valued at $362,000 after buying an additional 118 shares during the period. Xponance Inc. grew its position in Merit Medical Systems by 4.9% in the second quarter. Xponance Inc. now owns 3,621 shares of the medical instruments supplier’s stock worth $311,000 after acquiring an additional 170 shares during the period. Entropy Technologies LP increased its stake in Merit Medical Systems by 6.5% during the first quarter. Entropy Technologies LP now owns 3,314 shares of the medical instruments supplier’s stock worth $251,000 after acquiring an additional 203 shares during the last quarter. Parallel Advisors LLC raised its position in Merit Medical Systems by 114.6% in the fourth quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 212 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Merit Medical Systems by 19.7% in the 2nd quarter. Blue Trust Inc. now owns 1,426 shares of the medical instruments supplier’s stock valued at $123,000 after purchasing an additional 235 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Canaccord Genuity Group raised their price objective on Merit Medical Systems from $102.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Piper Sandler restated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Robert W. Baird initiated coverage on shares of Merit Medical Systems in a report on Friday, June 28th. They issued an “outperform” rating and a $96.00 target price for the company. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a research note on Friday, June 28th. Finally, StockNews.com cut Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.82.

Merit Medical Systems Stock Down 1.0 %

MMSI stock opened at $96.62 on Thursday. The company’s 50 day moving average price is $93.66 and its 200 day moving average price is $84.52. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 55.53, 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 quick ratio of 4.64 and a current ratio of 6.24.

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, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $338.00 million for the quarter, compared to analyst estimates of $334.94 million. Merit Medical Systems had a net margin of 9.02% and a return on equity of 15.29%. On average, equities research analysts anticipate that Merit Medical Systems, Inc. will post 3.31 EPS for the current fiscal year.

About Merit Medical Systems

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.