Redhawk Wealth Advisors Inc. Decreases Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Redhawk Wealth Advisors Inc. lessened its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 6.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,765 shares of the medical instruments supplier’s stock after selling 511 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Merit Medical Systems were worth $821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MMSI. NewSquare Capital LLC bought a new position in Merit Medical Systems in the 4th quarter valued at $32,000. Versant Capital Management Inc grew its position in shares of Merit Medical Systems by 1,518.5% during the 1st quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier’s stock worth $46,000 after buying an additional 410 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Merit Medical Systems during the 4th quarter worth $52,000. Federated Hermes Inc. grew its position in shares of Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after buying an additional 381 shares in the last quarter. Finally, Group One Trading LLC bought a new position in shares of Merit Medical Systems during the 4th quarter worth $77,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

Insider Buying and Selling at Merit Medical Systems

In other news, CEO Fred P. Lampropoulos sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $96.54, for a total value of $1,930,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,066,028 shares in the company, valued at $102,914,343.12. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael R. Mcdonnell sold 1,750 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $94.30, for a total value of $165,025.00. Following the completion of the transaction, the director now owns 8,145 shares of the company’s stock, valued at approximately $768,073.50. The trade was a 17.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,015 shares of company stock worth $6,709,970. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a research report on Friday, March 28th. They set an “overweight” rating and a $120.00 price target on the stock. Raymond James dropped their price target on Merit Medical Systems from $116.00 to $108.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Robert W. Baird dropped their price target on Merit Medical Systems from $111.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (up previously from $106.00) on shares of Merit Medical Systems in a research report on Friday, May 23rd. Finally, Barrington Research dropped their price objective on Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.11.

Merit Medical Systems Trading Down 0.8%

Merit Medical Systems stock opened at $94.40 on Thursday. The stock has a 50-day moving average of $94.40 and a two-hundred day moving average of $99.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a one year low of $80.02 and a one year high of $111.45. The stock has a market cap of $5.58 billion, a PE ratio of 46.27, a price-to-earnings-growth ratio of 2.34 and a beta of 0.66.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company had revenue of $355.35 million during the quarter, compared to analysts’ expectations of $352.57 million. During the same period last year, the business posted $0.77 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Merit Medical Systems Company 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.