Curi RMB Capital LLC Takes $5.87 Million Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Curi RMB Capital LLC purchased a new position in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,731 shares of the medical instruments supplier's stock, valued at approximately $5,874,000. Curi RMB Capital LLC owned about 0.10% of Merit Medical Systems at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in MMSI. First Trust Advisors LP grew its position in Merit Medical Systems by 15.1% during the fourth quarter. First Trust Advisors LP now owns 59,466 shares of the medical instruments supplier's stock valued at $5,752,000 after acquiring an additional 7,781 shares during the last quarter. Altium Capital Management LLC raised its holdings in shares of Merit Medical Systems by 17.6% during the fourth quarter. Altium Capital Management LLC now owns 100,000 shares of the medical instruments supplier's stock valued at $9,672,000 after acquiring an additional 15,000 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Merit Medical Systems by 413.7% in the 4th quarter. Marshall Wace LLP now owns 74,291 shares of the medical instruments supplier's stock worth $7,185,000 after purchasing an additional 59,829 shares during the period. Jump Financial LLC boosted its position in Merit Medical Systems by 391.6% during the 4th quarter. Jump Financial LLC now owns 32,429 shares of the medical instruments supplier's stock valued at $3,137,000 after acquiring an additional 25,833 shares in the last quarter. Finally, Walleye Trading LLC bought a new position in Merit Medical Systems in the fourth quarter worth $445,000. Hedge funds and other institutional investors own 99.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MMSI shares. Canaccord Genuity Group cut their price objective on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and issued a $116.00 target price on shares of Merit Medical Systems in a research note on Wednesday, April 9th. Piper Sandler reduced their price target on shares of Merit Medical Systems from $116.00 to $112.00 and set an "overweight" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. assumed coverage on Merit Medical Systems in a research note on Friday, March 28th. They set an "overweight" rating and a $120.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Two investment 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 company. According to MarketBeat, Merit Medical Systems currently has an average rating of "Moderate Buy" and an average price target of $113.89.

Merit Medical Systems Price Performance

Shares of NASDAQ MMSI traded up $0.91 during mid-day trading on Thursday, reaching $94.67. The company's stock had a trading volume of 1,368,254 shares, compared to its average volume of 492,344. 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, Inc. has a 52 week low of $72.81 and a 52 week high of $111.45. The stock has a fifty day moving average of $99.17 and a two-hundred day moving average of $100.52. The firm has a market capitalization of $5.59 billion, a PE ratio of 46.41, a P/E/G ratio of 2.34 and a beta of 0.85.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The medical instruments supplier reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. As a group, sell-side analysts anticipate that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Insider Activity at Merit Medical Systems

In other news, CEO Fred P. Lampropoulos sold 31,320 shares of the business'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 directly owns 1,086,028 shares in the company, valued at $112,794,868.08. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen C. Evans sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $105.31, for a total transaction of $526,550.00. Following the completion of the transaction, the director now directly owns 4,657 shares of the company's stock, valued at approximately $490,428.67. The trade was a 51.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders 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 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.