Yousif Capital Management LLC Sells 495 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Yousif Capital Management LLC lowered its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,019 shares of the medical instruments supplier’s stock after selling 495 shares during the period. Yousif Capital Management LLC’s holdings in Merit Medical Systems were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Avantax Advisory Services Inc. boosted its holdings in shares of Merit Medical Systems by 4.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier’s stock valued at $227,000 after purchasing an additional 103 shares during the last quarter. Arizona State Retirement System boosted its stake in Merit Medical Systems by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier’s stock valued at $1,632,000 after buying an additional 137 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Merit Medical Systems by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,987 shares of the medical instruments supplier’s stock valued at $579,000 after buying an additional 190 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Merit Medical Systems by 4.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,809 shares of the medical instruments supplier’s stock valued at $562,000 after buying an additional 231 shares in the last quarter. Finally, Portside Wealth Group LLC increased its stake in Merit Medical Systems by 10.1% in the 1st quarter. Portside Wealth Group LLC now owns 3,616 shares of the medical instruments supplier’s stock worth $382,000 after acquiring an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Stock Down 0.6%

Shares of NASDAQ:MMSI opened at $92.97 on Friday. The business’s 50 day moving average is $94.51 and its 200 day moving average is $99.57. The stock has a market cap of $5.49 billion, a P/E ratio of 45.57, a price-to-earnings-growth ratio of 2.34 and a beta of 0.66. Merit Medical Systems, Inc. has a 52-week low of $80.02 and a 52-week high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. The business had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. Sell-side analysts predict that Merit Medical Systems, Inc. will post 3.37 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barrington Research lowered their target price on Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. assumed coverage on shares of Merit Medical Systems in a research report on Friday, March 28th. They set an “overweight” rating and a $120.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $110.00 target price (up previously from $106.00) on shares of Merit Medical Systems in a report on Friday, May 23rd. Raymond James dropped their price target on shares of Merit Medical Systems from $116.00 to $108.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Needham & Company LLC increased their price objective on shares of Merit Medical Systems from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.11.

Insider Transactions at Merit Medical Systems

In other news, Director David Floyd sold 3,515 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $94.16, for a total value of $330,972.40. Following the completion of the transaction, the director now directly owns 4,880 shares of the company’s stock, valued at approximately $459,500.80. The trade was a 41.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fred P. Lampropoulos sold 400 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $95.61, for a total value of $38,244.00. Following the sale, the chief executive officer now directly owns 1,045,628 shares in the company, valued at approximately $99,972,493.08. The trade was a 0.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,415 shares of company stock valued at $6,748,214. Company insiders own 3.20% of the company’s stock.

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.