Axiom Investors LLC DE Sells 27,599 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Axiom Investors LLC DE trimmed its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 12.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,018 shares of the medical instruments supplier’s stock after selling 27,599 shares during the quarter. Axiom Investors LLC DE’s holdings in Merit Medical Systems were worth $17,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Barclays PLC lifted its stake in Merit Medical Systems by 305.4% in the third quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier’s stock valued at $11,142,000 after buying an additional 84,923 shares during the period. EULAV Asset Management lifted its position in shares of Merit Medical Systems by 400.0% during the 4th quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier’s stock valued at $11,123,000 after acquiring an additional 92,000 shares during the period. JPMorgan Chase & Co. boosted its stake in Merit Medical Systems by 85.6% during the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier’s stock worth $56,921,000 after acquiring an additional 265,648 shares in the last quarter. AMI Asset Management Corp grew its holdings in Merit Medical Systems by 28.7% in the fourth quarter. AMI Asset Management Corp now owns 33,041 shares of the medical instruments supplier’s stock worth $3,196,000 after purchasing an additional 7,367 shares during the period. Finally, Redhawk Wealth Advisors Inc. bought a new stake in Merit Medical Systems in the fourth quarter valued at $800,000. Institutional investors own 99.66% of the company’s stock.

Merit Medical Systems Price Performance

Merit Medical Systems stock opened at $103.94 on Monday. Merit Medical Systems, Inc. has a 52 week low of $70.70 and a 52 week high of $111.45. The company’s 50 day moving average price is $104.30 and its two-hundred day moving average price is $101.06. The stock has a market cap of $6.12 billion, a P/E ratio of 50.95, a P/E/G ratio of 2.34 and a beta of 0.91. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Analysts Set New Price Targets

MMSI has been the subject of several research reports. Raymond James raised their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 31st. Wells Fargo & Company lowered their target price on Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Barrington Research reduced their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group dropped their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Needham & Company LLC decreased their target price on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Two investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $111.70.

Insider Activity at Merit Medical Systems

In related news, CFO Raul Jr. Parra sold 5,361 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $103.58, for a total transaction of $555,292.38. Following the completion of the sale, the chief financial officer now owns 24,201 shares in the company, valued at approximately $2,506,739.58. This trade represents a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian G. Lloyd sold 25,000 shares of Merit Medical Systems stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the completion of the sale, the insider now directly owns 38,993 shares in the company, valued at approximately $3,879,803.50. This represents a 39.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is owned by insiders.

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.