EntryPoint Capital LLC Has $69,000 Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

EntryPoint Capital LLC lifted its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 2,666.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 913 shares of the medical instruments supplier’s stock after purchasing an additional 880 shares during the period. EntryPoint Capital LLC’s holdings in Merit Medical Systems were worth $69,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in Merit Medical Systems by 114.6% during the 4th quarter. Parallel Advisors LLC now owns 397 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 212 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Merit Medical Systems during the first quarter valued at approximately $50,000. Fidelis Capital Partners LLC bought a new stake in shares of Merit Medical Systems during the first quarter valued at approximately $90,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Merit Medical Systems in the fourth quarter valued at approximately $96,000. Finally, Central Pacific Bank Trust Division bought a new position in Merit Medical Systems in the 1st quarter worth approximately $133,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Merit Medical Systems Stock Up 0.6 %

Shares of Merit Medical Systems stock traded up $0.52 on Friday, hitting $85.52. The company had a trading volume of 293,389 shares, compared to its average volume of 441,985. Merit Medical Systems, Inc. has a twelve month low of $62.58 and a twelve month high of $88.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.03 and a quick ratio of 4.38. The stock has a 50-day moving average of $83.78 and a 200-day moving average of $79.18. The firm has a market capitalization of $4.97 billion, a P/E ratio of 49.15, a P/E/G ratio of 2.40 and a beta of 0.88.

Merit Medical Systems (NASDAQ:MMSI) last released its earnings results on Tuesday, April 30th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $323.51 million during the quarter, compared to analysts’ expectations of $315.57 million. Merit Medical Systems had a return on equity of 15.02% and a net margin of 7.94%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Research analysts predict that Merit Medical Systems, Inc. will post 3.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MMSI has been the topic of several research reports. Piper Sandler upped their price target on Merit Medical Systems from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Merit Medical Systems in a research report on Tuesday, July 16th. Needham & Company LLC raised their target price on shares of Merit Medical Systems from $85.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Robert W. Baird began coverage on shares of Merit Medical Systems in a research note on Friday, June 28th. They set an “outperform” rating and a $96.00 price target for the company. Finally, StockNews.com lowered shares of Merit Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.20.

Insider Transactions at Merit Medical Systems

In other news, COO Neil Peterson sold 7,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $81.85, for a total value of $613,875.00. Following the sale, the chief operating officer now owns 14,819 shares of the company’s stock, valued at $1,212,935.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Neil Peterson sold 7,500 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.85, for a total transaction of $613,875.00. Following the sale, the chief operating officer now owns 14,819 shares in the company, valued at $1,212,935.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 32,391 shares in the company, valued at approximately $2,753,235. The disclosure for this sale can be found here. Company insiders own 3.70% 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.