Iron Triangle Partners LP Has $39.37 Million Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Iron Triangle Partners LP increased its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI) by 60.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 407,022 shares of the medical instruments supplier’s stock after acquiring an additional 154,022 shares during the period. Merit Medical Systems comprises approximately 4.3% of Iron Triangle Partners LP’s investment portfolio, making the stock its 10th largest holding. Iron Triangle Partners LP owned 0.70% of Merit Medical Systems worth $39,367,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. NewSquare Capital LLC bought a new stake in shares of Merit Medical Systems during the 4th quarter worth approximately $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in Merit Medical Systems during the fourth quarter worth $52,000. Federated Hermes Inc. raised its position in Merit Medical Systems by 139.1% during the fourth quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier’s stock worth $63,000 after acquiring an additional 381 shares in the last quarter. Group One Trading LLC acquired a new stake in Merit Medical Systems in the fourth quarter valued at $77,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Merit Medical Systems by 237.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier’s stock valued at $134,000 after acquiring an additional 977 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.

Merit Medical Systems Stock Performance

NASDAQ MMSI opened at $95.83 on Friday. The firm has a 50-day moving average price of $97.00 and a two-hundred day moving average price of $100.51. Merit Medical Systems, Inc. has a 12-month low of $80.02 and a 12-month high of $111.45. The company has a market capitalization of $5.66 billion, a P/E ratio of 46.98, a P/E/G ratio of 2.34 and a beta of 0.70. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57.

Merit Medical Systems (NASDAQ:MMSI) last posted its quarterly earnings data on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. The firm had revenue of $355.35 million for the quarter, compared to analyst estimates of $352.57 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS. Analysts anticipate that Merit Medical Systems, Inc. will post 3.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MMSI has been the topic of a number of research analyst reports. Barrington Research dropped their target price on shares of Merit Medical Systems from $111.00 to $103.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Raymond James cut their price objective on Merit Medical Systems from $116.00 to $108.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Canaccord Genuity Group reduced their target price on Merit Medical Systems from $127.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Needham & Company LLC cut their price target on Merit Medical Systems from $116.00 to $100.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Piper Sandler reduced their price objective on shares of Merit Medical Systems from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.78.

Insider Buying and Selling at Merit Medical Systems

In related news, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total value of $526,550.00. Following the transaction, the director now directly owns 4,657 shares of the company’s stock, valued at $490,428.67. This trade represents a 51.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Raul Jr. Parra sold 12,451 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the sale, the chief financial officer now owns 24,201 shares of the company’s stock, valued at $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,132 shares of company stock valued at $11,139,521 in the last ninety days. 3.70% of the stock is currently owned by company 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.