8,062 Shares in Merit Medical Systems, Inc. (NASDAQ:MMSI) Purchased by Magnetar Financial LLC

Magnetar Financial LLC acquired a new stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,062 shares of the medical instruments supplier's stock, valued at approximately $780,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC purchased a new position in Merit Medical Systems in the fourth quarter worth $32,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Merit Medical Systems in the 4th quarter valued at about $52,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Merit Medical Systems in the third quarter valued at about $120,000. Smartleaf Asset Management LLC boosted its holdings in Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock worth $134,000 after buying an additional 977 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Merit Medical Systems by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier's stock worth $144,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds own 99.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barrington Research lowered their price target on Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Raymond James lifted their price target on Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 31st. Piper Sandler reiterated an "overweight" rating and issued a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Finally, Needham & Company LLC lowered their target price on Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Merit Medical Systems has an average rating of "Moderate Buy" and an average target price of $110.78.

Remove Ads

Insiders Place Their Bets

In related news, insider Brian G. Lloyd sold 25,000 shares of the 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 sale, the insider now directly owns 38,993 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $103.86, for a total value of $3,252,895.20. Following the sale, the chief executive officer now owns 1,086,028 shares in the company, valued at approximately $112,794,868.08. The trade was a 2.80 % 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 over the last quarter. Company insiders own 3.70% of the company's stock.

Merit Medical Systems Trading Down 1.0 %

Shares of MMSI stock traded down $1.04 during trading hours on Wednesday, hitting $103.70. 450,055 shares of the company were exchanged, compared to its average volume of 425,415. The firm has a fifty day moving average of $104.21 and a 200 day moving average of $100.92. 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, Inc. has a 1 year low of $70.70 and a 1 year high of $111.45. The firm has a market cap of $6.10 billion, a PE ratio of 50.83, a PEG ratio of 2.34 and a beta of 0.91.

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.