Point72 Asia Singapore Pte. Ltd. Sells 3,820 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 67.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,832 shares of the medical instruments supplier’s stock after selling 3,820 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Merit Medical Systems were worth $157,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMSI. UniSuper Management Pty Ltd purchased a new stake in Merit Medical Systems in the first quarter worth $1,083,000. Quantbot Technologies LP grew its holdings in shares of Merit Medical Systems by 17,716.1% in the first quarter. Quantbot Technologies LP now owns 9,977 shares of the medical instruments supplier’s stock worth $756,000 after purchasing an additional 9,921 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Merit Medical Systems by 36.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,144 shares of the medical instruments supplier’s stock worth $1,638,000 after buying an additional 5,915 shares during the period. BNP Paribas Financial Markets lifted its holdings in Merit Medical Systems by 55.3% during the 1st quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock valued at $4,011,000 after buying an additional 18,863 shares in the last quarter. Finally, 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 buying an additional 506,992 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 18th. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a report on Friday, June 28th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (up from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and set a $105.00 price target on shares of Merit Medical Systems in a research report on Monday, September 16th. Finally, Bank of America raised their price target on Merit Medical Systems from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. 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. According to data from MarketBeat.com, Merit Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.82.

Merit Medical Systems Trading Up 0.1 %

NASDAQ:MMSI opened at $97.68 on Friday. The firm has a 50 day moving average of $92.74 and a 200 day moving average of $83.76. The company has a quick ratio of 4.64, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. Merit Medical Systems, Inc. has a 52 week low of $62.58 and a 52 week high of $101.60. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 56.14, a PEG ratio of 2.52 and a beta of 0.87.

Merit Medical Systems (NASDAQ:MMSI) last announced its earnings results 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. Merit Medical Systems had a return on equity of 15.29% and a net margin of 9.02%. The firm had revenue of $338.00 million for the quarter, compared to the consensus estimate of $334.94 million. As a group, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current fiscal year.

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.