Merit Medical Systems, Inc. (NASDAQ:MMSI) Stock Holdings Lowered by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,507 shares of the medical instruments supplier's stock after selling 2,380 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Merit Medical Systems worth $2,951,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new stake in Merit Medical Systems during the 3rd quarter worth $228,000. FMR LLC lifted its stake in shares of Merit Medical Systems by 70.1% during the third quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier's stock worth $155,879,000 after purchasing an additional 649,799 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of Merit Medical Systems by 32.6% in the third quarter. CreativeOne Wealth LLC now owns 5,320 shares of the medical instruments supplier's stock worth $526,000 after buying an additional 1,307 shares during the period. Captrust Financial Advisors grew its stake in shares of Merit Medical Systems by 2.6% in the third quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier's stock valued at $735,000 after buying an additional 187 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Merit Medical Systems during the 3rd quarter valued at about $1,497,000. Institutional investors and hedge funds own 99.66% of the company's stock.

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Insider Buying and Selling at Merit Medical Systems

In other news, insider Brian G. Lloyd sold 30,000 shares of Merit Medical Systems stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total value of $3,087,000.00. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the stock in a transaction dated 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 owns 1,086,028 shares in the company, valued at approximately $112,794,868.08. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,132 shares of company stock worth $11,139,521 over the last 90 days. Insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MMSI. Canaccord Genuity Group decreased 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 shares of Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. started coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They set an "overweight" rating and a $120.00 price target on the stock. Piper Sandler reissued an "overweight" rating and issued a $116.00 price objective (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Finally, Raymond James lifted their target price on Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 31st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Merit Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.70.

Merit Medical Systems Stock Down 11.0 %

NASDAQ MMSI traded down $11.46 on Friday, hitting $92.50. 2,000,794 shares of the stock traded hands, compared to its average volume of 462,604. The company has a market capitalization of $5.44 billion, a P/E ratio of 45.34, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. The stock has a 50-day moving average of $104.19 and a 200 day moving average of $101.22. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a twelve month low of $70.70 and a twelve month high of $111.45.

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.