Envestnet Asset Management Inc. has recently filed a report with the Securities and Exchange Commission (SEC), disclosing an increase in its holdings in Merit Medical Systems, Inc. As of the end of the 4th quarter, Envestnet Asset Management held 55,012 shares of Merit Medical Systems, accounting for approximately 0.10% of the company’s stock worth $3,885,000. This is an 8.9% increase in Envestnet Asset Management’s holdings as it purchased an additional 4,515 shares during that period.
Merit Medical Systems is a global leader in manufacturing proprietary disposable medical devices meant to enhance targeted patient outcomes in order to improve clinical efficacy. It operates through two segments – Cardiovascular and Endoscopy segments – that offer a wide range of vascular access products and therapeutic solutions for diseases like hypertension, cancer and spinal disorders.
In related news regarding the management team at Merit Medical Systems Inc., Chief Executive Officer (CEO) Fred P.Lampropoulos has recently sold a significant amount of his stakes in Merit through various transactions acquired over several days. On Wednesday March 1st, he sold off over 1,400 shares at an average price point around $70 per share investing more than $100K back into his market account After all these sell-offs his total investments were valued at approximately $71 million.
Additionally, Director Lynne Ward also unloaded some Merit stock on March 8th by selling off 11,585 shares at a price point near $67 per share accumulating almost $770K from those transactions such that Director Ward currently holds just shy of six thousand shares in company stock trading at roughly $400K.
However this might be taken as ‘unloading’ by astute investors and traders given the insider selling highlighted since there have been insiders who’ve dumped about sixty four thousand shares worth over four million dollars within recent weeks thereby disinvesting from Merit Medical Systems suggesting that short-term gains had been achieved. These transactions by insiders have caused some degree of concern among investors particularly considering the volatile nature of trade and how often insider selling is an indicator of bad organizational performance.
It’s important to observe that the recent transactions involving these Merit Medical executives conveys no implications regarding their positions in the company nor should they be interpreted as harbingers of negative results but rather a spur toward positive growth. Regardless, traders should remain vigilant about how both internal and external factors can impact a stock’s value, while also doing their own research since individual investment goals differ for each investor.
[bs_forecast_slider ticker=”MMSI”]
Merit Medical Systems Continues to Attract Institutional Investors and Solidify its Leading Position in the Medical Instruments Industry
Merit Medical Systems Continues to Attract Institutional Investors
Merit Medical Systems, Inc. has once again solidified its position as a leading medical instruments supplier. Several institutional investors have recently increased their holdings of MMSI, including BlackRock Inc., Vanguard Group Inc., Bank of New York Mellon Corp, Putnam Investments LLC and Mesirow Institutional Investment Management Inc.
BlackRock’s position in shares of Merit Medical Systems increased by 6.8% during Q3, and the company now owns over 9.7 million shares worth approximately $548.4 million. Vanguard Group also grew its holdings in the company by 6%, while Bank of New York Mellon Corp’s increased by an impressive 61.4%.
Investors are clearly attracted to the specialist medical devices produced by Merit Medical Systems, which operates through its Cardiovascular and Endoscopy sectors. The company offers products for peripheral intervention, cardiac intervention, interventional oncology and spine, and cardiovascular and critical care groups.
Equities analysts have also been positive about Merit Medical’s prospects in the sector. Needham & Company LLC raised its target price for the company from $84.00 to $90.00 in a recent report, while Barrington Research lifted their target price on the stock from $78.00 to $90.00.
Despite already having a market cap of $4.84 billion and a P/E ratio of 56.81 with a PEG ratio of 2.67, this continued interest from institutional investors suggests there could be even more growth opportunities ahead for Merit Medical Systems.
Analysts predict that Merit Medical Systems will post earnings per share (EPS) of around 2.89 for the current fiscal year – an increase on last year’s profit margin of 7%. Clearly, all signs point towards strong performance for this innovative medical technology company over the coming months and beyond.
In conclusion, Merit Medical Systems has once again proven that it is well-placed to benefit from increasing demand for high-quality medical instruments. Combined with positive analyst predictions and a growing number of institutional investors, Merit Medical Systems looks set to build on its already strong position in the sector.
