Renaissance Technologies LLC Has $8.20 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Renaissance Technologies LLC trimmed its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 16.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,412 shares of the medical instruments supplier’s stock after selling 18,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.16% of Merit Medical Systems worth $8,201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MMSI. William Blair Investment Management LLC raised its position in Merit Medical Systems by 0.3% in the second quarter. William Blair Investment Management LLC now owns 3,053,461 shares of the medical instruments supplier’s stock valued at $262,445,000 after purchasing an additional 10,512 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in Merit Medical Systems by 3.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,250,368 shares of the medical instruments supplier’s stock valued at $193,419,000 after buying an additional 75,885 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in Merit Medical Systems by 17.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 880,327 shares of the medical instruments supplier’s stock worth $66,685,000 after acquiring an additional 131,977 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Merit Medical Systems by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 838,843 shares of the medical instruments supplier’s stock valued at $63,543,000 after acquiring an additional 22,077 shares during the period. Finally, Congress Asset Management Co. MA raised its stake in shares of Merit Medical Systems by 4,411.3% during the first quarter. Congress Asset Management Co. MA now owns 518,485 shares of the medical instruments supplier’s stock valued at $39,275,000 after acquiring an additional 506,992 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Performance

Shares of MMSI opened at $99.60 on Wednesday. The stock has a 50 day moving average of $92.26 and a 200 day moving average of $83.56. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 57.24, a PEG ratio of 2.53 and a beta of 0.87. Merit Medical Systems, Inc. has a 12 month low of $62.58 and a 12 month high of $101.60. The company has a current ratio of 6.24, a quick ratio of 4.64 and a debt-to-equity ratio of 0.62.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $338.00 million during 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%. As a group, sell-side analysts forecast that Merit Medical Systems, Inc. will post 3.31 earnings per share for the current year.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, Director F. Ann Millner sold 12,500 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $85.00, for a total value of $1,062,500.00. Following the completion of the sale, the director now directly owns 32,391 shares of the company’s stock, valued at $2,753,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on MMSI. Baird R W upgraded Merit Medical Systems to a “strong-buy” rating in a research report on Friday, June 28th. Piper Sandler reissued an “overweight” rating and set a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a research report on Monday, September 9th. Barrington Research boosted their price target on shares of Merit Medical Systems from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Bank of America increased their price objective on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.