Here’s Why Merit Medical Systems (MMSI) Fell in Q3

Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Small Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Information technology and industrials were the top-performing sectors in the Carillon Chartwell Small Cap Growth Fund, with alpha production coming from well-chosen stocks. In contrast, poor stock selection hindered the materials sector’s performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Carillon Chartwell Small Cap Value Fund highlighted stocks like Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter 2023 investor letter. Headquartered in South Jordan, Utah, Merit Medical Systems, Inc. (NASDAQ:MMSI) manufactures and markets proprietary disposable medical devices. On December 26, 2023, Merit Medical Systems, Inc. (NASDAQ:MMSI) stock closed at $76.52 per share. One-month return of Merit Medical Systems, Inc. (NASDAQ:MMSI) was 8.29%, and its shares gained 10.21% of their value over the last 52 weeks. Merit Medical Systems, Inc. (NASDAQ:MMSI) has a market capitalization of $4.419 billion.

Carillon Chartwell Small Cap Value Fund made the following comment about Merit Medical Systems, Inc. (NASDAQ:MMSI) in its Q3 2023 investor letter:

“Merit Medical Systems, Inc. (NASDAQ:MMSI) was a weak performer as the company cautioned that the sales and margins visibility in its China division were lower due to volume-based procurement programs set in place by the Chinese government this year.”

A surgeon using endoscopy products to perform a medical procedure.

Merit Medical Systems, Inc. (NASDAQ:MMSI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Merit Medical Systems, Inc. (NASDAQ:MMSI) at the end of third quarter which was 25 in the previous quarter.

We discussed Merit Medical Systems, Inc. (NASDAQ:MMSI) in another article and shared Conestoga Capital Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.