Emerald Advisers LLC Trims Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Emerald Advisers LLC lowered its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,755 shares of the medical instruments supplier's stock after selling 12,424 shares during the period. Emerald Advisers LLC owned 0.52% of Merit Medical Systems worth $29,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MMSI. Natixis Advisors LLC grew its position in shares of Merit Medical Systems by 1.5% during the 3rd quarter. Natixis Advisors LLC now owns 67,544 shares of the medical instruments supplier's stock valued at $6,675,000 after purchasing an additional 1,009 shares in the last quarter. Pathstone Holdings LLC increased its stake in Merit Medical Systems by 20.1% in the 3rd quarter. Pathstone Holdings LLC now owns 34,950 shares of the medical instruments supplier's stock worth $3,454,000 after acquiring an additional 5,844 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Merit Medical Systems in the 3rd quarter valued at about $935,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Merit Medical Systems by 216.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,064 shares of the medical instruments supplier's stock valued at $995,000 after acquiring an additional 6,887 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Merit Medical Systems by 67.6% during the third quarter. Intech Investment Management LLC now owns 14,024 shares of the medical instruments supplier's stock worth $1,386,000 after purchasing an additional 5,654 shares in the last quarter. Institutional investors own 99.66% of the company's stock.

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Merit Medical Systems Trading Down 0.4 %

MMSI traded down $0.43 during trading on Thursday, hitting $103.27. 321,419 shares of the stock traded hands, compared to its average volume of 424,669. The firm has a 50-day moving average of $104.28 and a 200 day moving average of $100.96. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45. The firm has a market capitalization of $6.08 billion, a P/E ratio of 50.62, 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 current ratio of 5.36 and a quick ratio of 3.82.

Insiders Place Their Bets

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 12,451 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 24,201 shares in the company, valued at $2,391,300.81. This trade represents a 33.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of Merit Medical Systems stock in a transaction that occurred on 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 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. In the last 90 days, insiders sold 109,132 shares of company stock worth $11,139,521. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MMSI has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of 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. Canaccord Genuity Group dropped their price target on Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC reduced their price objective on Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Barrington Research dropped their target price on Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler reiterated an "overweight" rating and set a $116.00 price target (up from $114.00) on shares of Merit Medical Systems in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.78.

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.