Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,394 shares of the medical instruments supplier's stock after selling 3,989 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.22% of Merit Medical Systems worth $12,612,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MMSI. FMR LLC increased its position 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. Raymond James Financial Inc. purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $48,926,000. Bryn Mawr Capital Management LLC purchased a new stake in shares of Merit Medical Systems during the fourth quarter worth approximately $36,057,000. Two Sigma Advisers LP increased its position in shares of Merit Medical Systems by 218.9% during the third quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier's stock worth $44,029,000 after purchasing an additional 305,800 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Merit Medical Systems by 85.6% during the third quarter. JPMorgan Chase & Co. now owns 575,946 shares of the medical instruments supplier's stock worth $56,921,000 after purchasing an additional 265,648 shares in the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In related news, insider Brian G. Lloyd sold 25,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the transaction, the insider now owns 38,993 shares of the company's stock, valued at approximately $3,879,803.50. This represents a 39.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Raul Jr. Parra sold 12,451 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $98.81, for a total value of $1,230,283.31. Following the transaction, the chief financial officer now directly owns 24,201 shares in the company, valued at approximately $2,391,300.81. The trade was a 33.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,132 shares of company stock valued at $11,139,521 in the last quarter. Insiders own 3.70% of the company's stock.

Merit Medical Systems Trading Down 0.7 %

Shares of Merit Medical Systems stock traded down $0.71 during trading hours on Thursday, hitting $97.66. The company's stock had a trading volume of 655,373 shares, compared to its average volume of 587,297. Merit Medical Systems, Inc. has a twelve month low of $70.70 and a twelve month high of $111.45. The firm has a fifty day moving average of $103.43 and a 200-day moving average of $100.55. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 47.87, a P/E/G ratio of 2.34 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MMSI. Raymond James upped their target price on Merit Medical Systems from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, December 31st. Wells Fargo & Company dropped their target price on Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating for the company in a 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 report on Wednesday, February 26th. Piper Sandler restated an "overweight" rating and issued a $116.00 target price (up from $114.00) on shares of Merit Medical Systems in a report on Wednesday, January 29th. Finally, Needham & Company LLC dropped their target price on Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $110.78.

About Merit Medical Systems

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.