Renaissance Technologies LLC Has $21.66 Million Stock Holdings in Merit Medical Systems, Inc. $MMSI

Renaissance Technologies LLC lifted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 149.0% during the first quarter, HoldingsChannel reports. The firm owned 314,212 shares of the medical instruments supplier’s stock after buying an additional 188,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Merit Medical Systems were worth $21,659,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MMSI. SG Americas Securities LLC acquired a new stake in Merit Medical Systems during the 4th quarter worth $1,537,000. Bessemer Group Inc. increased its holdings in shares of Merit Medical Systems by 54.2% in the fourth quarter. Bessemer Group Inc. now owns 313,981 shares of the medical instruments supplier’s stock worth $27,674,000 after acquiring an additional 110,392 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Merit Medical Systems in the fourth quarter worth about $12,239,000. Norges Bank acquired a new stake in shares of Merit Medical Systems during the fourth quarter worth about $75,957,000. Finally, Peak Retirement Planning Inc. raised its position in shares of Merit Medical Systems by 35.4% during the fourth quarter. Peak Retirement Planning Inc. now owns 32,472 shares of the medical instruments supplier’s stock worth $2,862,000 after purchasing an additional 8,494 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

Analyst Ratings Changes

MMSI has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on Merit Medical Systems from $95.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Citigroup reaffirmed an “outperform” rating on shares of Merit Medical Systems in a research note on Monday, April 20th. Wells Fargo & Company reduced their price target on shares of Merit Medical Systems from $78.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Robert W. Baird set a $83.00 price objective on shares of Merit Medical Systems in a research report on Friday, May 1st. Finally, Compass Point set a $107.00 price objective on shares of Merit Medical Systems in a research report on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.80.

Insider Activity

In related news, insider Brian G. Lloyd bought 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average price of $62.62 per share, with a total value of $125,240.00. Following the completion of the transaction, the insider owned 2,000 shares in the company, valued at $125,240. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lynne N. Ward sold 5,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $62.61, for a total transaction of $313,050.00. Following the sale, the director directly owned 7,809 shares in the company, valued at $488,921.49. This trade represents a 39.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.70% of the company’s stock.

Merit Medical Systems Stock Up 3.3%

Shares of Merit Medical Systems stock opened at $80.84 on Thursday. The business’s 50 day simple moving average is $69.06 and its 200 day simple moving average is $71.71. Merit Medical Systems, Inc. has a 52-week low of $59.74 and a 52-week high of $94.75. The firm has a market cap of $4.82 billion, a PE ratio of 35.00, a P/E/G ratio of 2.44 and a beta of 0.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.46 and a current ratio of 5.08.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. The firm had revenue of $381.88 million during the quarter, compared to the consensus estimate of $377.59 million. Merit Medical Systems had a return on equity of 13.54% and a net margin of 9.03%.The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, analysts predict that Merit Medical Systems, Inc. will post 3.62 earnings per share for the current fiscal year.

About Merit Medical Systems

Merit Medical Systems, Inc is a global manufacturer and marketer of a broad range of medical devices used in diagnostic and interventional procedures. The company’s product portfolio encompasses vascular access, drainage, embolotherapy, and interventional oncology devices, as well as radiofrequency ablation systems and hemostasis solutions. These products serve physicians and hospitals in critical care settings and support minimally invasive treatment options across multiple specialties, including cardiology, radiology, oncology, neurology and endoscopy.

Founded in 1987 by Fred Lampropoulos, Merit Medical Systems has grown through both organic development and targeted acquisitions to expand its technology offerings and geographic reach.