505,843 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 505,843 shares of the medical instruments supplier's stock, valued at approximately $48,926,000. Raymond James Financial Inc. owned 0.87% of Merit Medical Systems at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Merit Medical Systems by 305.4% in the 3rd quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier's stock valued at $11,142,000 after buying an additional 84,923 shares during the period. EULAV Asset Management grew its holdings in Merit Medical Systems by 400.0% in the 4th quarter. EULAV Asset Management now owns 115,000 shares of the medical instruments supplier's stock valued at $11,123,000 after buying an additional 92,000 shares during the period. Van ECK Associates Corp purchased a new stake in Merit Medical Systems in the 3rd quarter valued at about $718,000. Fisher Asset Management LLC grew its holdings in Merit Medical Systems by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 221,690 shares of the medical instruments supplier's stock valued at $21,910,000 after buying an additional 6,837 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Merit Medical Systems by 85.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier's stock valued at $56,921,000 after buying an additional 265,648 shares during the period. Hedge funds and other institutional investors own 99.66% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Canaccord Genuity Group lowered their price target on Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Needham & Company LLC decreased their target price on Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Piper Sandler reiterated an "overweight" rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Wells Fargo & Company decreased their target price on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Raymond James boosted 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. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $110.78.

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Merit Medical Systems Stock Performance

Merit Medical Systems stock opened at $98.40 on Wednesday. The stock's 50 day moving average price is $103.39 and its 200 day moving average price is $100.56. The firm has a market capitalization of $5.79 billion, a PE ratio of 48.24, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. 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 $70.70 and a one year high of $111.45.

Insider Buying and Selling

In related news, insider Brian G. Lloyd sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the transaction, the insider now directly owns 38,945 shares of the company's stock, valued at approximately $4,007,440.50. The trade was a 43.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Raul Jr. Parra sold 12,451 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $98.81, for a total value of $1,230,283.31. Following the completion of the transaction, the chief financial officer now directly owns 24,201 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 109,132 shares of company stock valued at $11,139,521. Corporate insiders own 3.70% of the company's stock.

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.

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