EntryPoint Capital LLC Invests $396,000 in Merit Medical Systems, Inc. (NASDAQ:MMSI)

EntryPoint Capital LLC bought a new position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,099 shares of the medical instruments supplier's stock, valued at approximately $396,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MMSI. Vanguard Group Inc. boosted its stake in Merit Medical Systems by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,648,659 shares of the medical instruments supplier's stock worth $643,058,000 after acquiring an additional 63,314 shares during the last quarter. State Street Corp boosted its position in shares of Merit Medical Systems by 0.7% during the third quarter. State Street Corp now owns 2,231,701 shares of the medical instruments supplier's stock worth $220,559,000 after purchasing an additional 15,098 shares in the last quarter. FMR LLC grew its holdings in shares of Merit Medical Systems by 70.1% in the 3rd quarter. FMR LLC now owns 1,577,246 shares of the medical instruments supplier's stock valued at $155,879,000 after buying an additional 649,799 shares during the period. Geode Capital Management LLC increased its position in shares of Merit Medical Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,357,265 shares of the medical instruments supplier's stock valued at $134,165,000 after buying an additional 17,490 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Merit Medical Systems by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 748,561 shares of the medical instruments supplier's stock worth $72,401,000 after buying an additional 21,221 shares during the period. Institutional investors own 99.66% of the company's stock.

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Insiders Place Their Bets

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 12,451 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the transaction, the chief financial officer now owns 24,201 shares of the company's stock, valued at $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen C. Evans sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $105.31, for a total value of $526,550.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,132 shares of company stock valued at $11,139,521. 3.70% of the stock is currently owned by corporate insiders.

Merit Medical Systems Stock Up 1.7 %

Shares of NASDAQ:MMSI traded up $1.77 during trading on Monday, hitting $105.71. 1,082,641 shares of the company were exchanged, compared to its average volume of 452,741. Merit Medical Systems, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $111.45. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average price of $104.36 and a two-hundred day moving average price of $101.13. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 51.82, a P/E/G ratio of 2.34 and a beta of 0.91.

Analyst Ratings Changes

A number of research firms have issued reports on MMSI. Canaccord Genuity Group decreased their target price 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 decreased their price objective on Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Barrington Research dropped their target price on shares of Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Piper Sandler reiterated an "overweight" rating and issued a $116.00 price target (up previously from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price objective on shares of Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued 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 an average price target of $111.70.

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.