Point72 Asset Management L.P. Acquires Shares of 128,116 Merit Medical Systems, Inc. (MMSI)

Point72 Asset Management L.P. bought a new stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 128,116 shares of the medical instruments supplier’s stock, valued at approximately $6,560,000. Point72 Asset Management L.P. owned approximately 0.23% of Merit Medical Systems as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MMSI. Bank of America Corp DE grew its holdings in Merit Medical Systems by 25.0% during the 2nd quarter. Bank of America Corp DE now owns 366,586 shares of the medical instruments supplier’s stock valued at $18,770,000 after buying an additional 73,349 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Merit Medical Systems by 4.4% in the 2nd quarter. Voya Investment Management LLC now owns 1,032,103 shares of the medical instruments supplier’s stock worth $52,844,000 after purchasing an additional 43,921 shares during the period. Raymond James & Associates boosted its holdings in shares of Merit Medical Systems by 9.7% in the 2nd quarter. Raymond James & Associates now owns 54,699 shares of the medical instruments supplier’s stock worth $2,801,000 after purchasing an additional 4,834 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of Merit Medical Systems in the 2nd quarter worth approximately $1,255,000. Finally, Federated Investors Inc. PA boosted its holdings in shares of Merit Medical Systems by 172.8% in the 2nd quarter. Federated Investors Inc. PA now owns 105,584 shares of the medical instruments supplier’s stock worth $5,405,000 after purchasing an additional 66,877 shares during the period. 86.96% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on the company. Sidoti set a $79.00 target price on Merit Medical Systems and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Piper Jaffray Companies boosted their price objective on Merit Medical Systems from $58.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, October 2nd. Barrington Research boosted their price objective on Merit Medical Systems to $69.00 and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Needham & Company LLC lifted their target price on Merit Medical Systems from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Finally, SunTrust Banks lifted their target price on Merit Medical Systems to $68.00 and gave the company a “buy” rating in a research report on Monday, August 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $67.10.

Merit Medical Systems stock traded down $1.44 during trading hours on Wednesday, hitting $61.25. 477,800 shares of the stock traded hands, compared to its average volume of 391,033. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.45 and a current ratio of 2.66. The company has a market cap of $3.36 billion, a PE ratio of 48.40, a PEG ratio of 2.90 and a beta of 1.38. Merit Medical Systems, Inc. has a 1 year low of $36.21 and a 1 year high of $66.34.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings results on Monday, July 23rd. The medical instruments supplier reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. Merit Medical Systems had a return on equity of 10.48% and a net margin of 2.44%. The business had revenue of $224.81 million for the quarter, compared to the consensus estimate of $214.64 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, analysts predict that Merit Medical Systems, Inc. will post 1.64 EPS for the current fiscal year.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets various disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides various peripheral intervention products, including access, angiography, intervention, and drainage and biopsy products to alleviate patients suffering from peripheral vascular and non-vascular diseases; and cardiac intervention products to aid in the treatment of various cardiac conditions specific to interventional cardiology and electrophysiology, including cardiac rhythm management and lead management.

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Institutional Ownership by Quarter for Merit Medical Systems (NASDAQ:MMSI)

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