Arrowstreet Capital Limited Partnership Acquires Shares of 5,001 Merit Medical Systems, Inc. (NASDAQ:MMSI)

Arrowstreet Capital Limited Partnership purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,001 shares of the medical instruments supplier's stock, valued at approximately $484,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMSI. NewSquare Capital LLC acquired a new position in shares of Merit Medical Systems during the 4th quarter valued at $32,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Merit Medical Systems during the fourth quarter valued at about $52,000. Smartleaf Asset Management LLC boosted its position in shares of Merit Medical Systems by 237.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock worth $134,000 after purchasing an additional 977 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Merit Medical Systems by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier's stock worth $144,000 after purchasing an additional 191 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of Merit Medical Systems by 13.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier's stock valued at $171,000 after buying an additional 211 shares during the period. 99.66% of the stock is currently owned by institutional investors.

Merit Medical Systems Stock Down 1.4 %

Merit Medical Systems stock traded down $1.29 during midday trading on Tuesday, hitting $91.96. 503,123 shares of the stock were exchanged, compared to its average volume of 481,697. Merit Medical Systems, Inc. has a 52-week low of $70.70 and a 52-week high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The business's 50-day moving average price is $101.60 and its 200-day moving average price is $100.85. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 45.08, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85.

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Wall Street Analyst Weigh In

Several brokerages have issued reports on MMSI. Needham & Company LLC reiterated a "buy" rating and issued a $116.00 price target on shares of Merit Medical Systems in a report on Wednesday, April 9th. Raymond James increased their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, December 31st. Piper Sandler reissued an "overweight" rating and issued a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Barrington Research restated an "outperform" rating and set a $111.00 price objective on shares of Merit Medical Systems in a report on Friday. Finally, Canaccord Genuity Group reduced their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Two 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's stock. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of "Moderate Buy" and a consensus target price of $114.33.

Insiders Place Their Bets

In other Merit Medical Systems news, insider Brian G. Lloyd sold 25,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the transaction, the insider now owns 38,993 shares in the company, valued at $3,879,803.50. This represents a 39.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the sale, the director now owns 4,657 shares in the company, valued at $490,428.67. The trade was a 51.78 % 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 90 days. 3.70% of the stock is currently owned by corporate insiders.

About Merit Medical Systems

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.