Charles Schwab Investment Management Inc. Boosts Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Charles Schwab Investment Management Inc. boosted its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 748,561 shares of the medical instruments supplier's stock after acquiring an additional 21,221 shares during the period. Charles Schwab Investment Management Inc. owned 1.28% of Merit Medical Systems worth $72,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MMSI. Kohmann Bosshard Financial Services LLC purchased a new stake in Merit Medical Systems during the fourth quarter valued at approximately $52,000. Farther Finance Advisors LLC lifted its position in Merit Medical Systems by 32.7% during the third quarter. Farther Finance Advisors LLC now owns 1,056 shares of the medical instruments supplier's stock valued at $104,000 after acquiring an additional 260 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Merit Medical Systems during the third quarter valued at approximately $120,000. Smartleaf Asset Management LLC lifted its position 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 valued at $134,000 after acquiring an additional 977 shares during the last quarter. Finally, GAMMA Investing LLC lifted 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 valued at $144,000 after acquiring an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Insider Transactions at Merit Medical Systems

In related news, insider Brian G. Lloyd sold 30,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the sale, the insider now directly owns 38,945 shares of the company's stock, valued at approximately $4,007,440.50. This represents a 43.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the sale, the chief executive officer now directly owns 1,086,028 shares in the company, valued at $112,794,868.08. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock worth $11,139,521 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MMSI shares. Raymond James increased their target price on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday, December 31st. Barrington Research cut their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group cut their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Piper Sandler restated an "overweight" rating and set a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Finally, Needham & Company LLC cut their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Merit Medical Systems has a consensus rating of "Moderate Buy" and an average price target of $110.78.

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Merit Medical Systems Stock Up 1.3 %

NASDAQ:MMSI opened at $98.40 on Wednesday. The firm has a market capitalization of $5.79 billion, a P/E ratio of 48.24, a PEG ratio of 2.34 and a beta of 0.91. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year high of $111.45. The company's fifty day moving average price is $103.39 and its 200-day moving average price is $100.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.36 and a quick ratio of 3.82.

Merit Medical Systems Company 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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