Jane Street Group LLC Has $7.02 Million Stake in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Jane Street Group LLC reduced its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 19.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,073 shares of the medical instruments supplier's stock after selling 17,193 shares during the period. Jane Street Group LLC owned approximately 0.12% of Merit Medical Systems worth $7,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtus Investment Advisers Inc. lifted its position in shares of Merit Medical Systems by 45.5% during the 3rd quarter. Virtus Investment Advisers Inc. now owns 7,679 shares of the medical instruments supplier's stock valued at $759,000 after acquiring an additional 2,400 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Merit Medical Systems by 218.9% in the 3rd quarter. Two Sigma Advisers LP now owns 445,500 shares of the medical instruments supplier's stock valued at $44,029,000 after purchasing an additional 305,800 shares during the period. State Street Corp increased its stake in Merit Medical Systems by 0.7% in the 3rd 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. Stifel Financial Corp raised its holdings in Merit Medical Systems by 20.7% during the 3rd quarter. Stifel Financial Corp now owns 28,050 shares of the medical instruments supplier's stock worth $2,772,000 after buying an additional 4,806 shares during the period. Finally, SageView Advisory Group LLC lifted its stake in Merit Medical Systems by 38.1% during the third quarter. SageView Advisory Group LLC now owns 4,826 shares of the medical instruments supplier's stock valued at $477,000 after buying an additional 1,331 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Raul Jr. Parra sold 29,646 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $98.02, for a total value of $2,905,900.92. Following the transaction, the chief financial officer now owns 16,361 shares of the company's stock, valued at $1,603,705.22. This represents a 64.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director F. Ann Millner sold 12,500 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $101.55, for a total value of $1,269,375.00. Following the transaction, the director now owns 32,391 shares in the company, valued at approximately $3,289,306.05. This trade represents a 27.85 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Merit Medical Systems Stock Performance

Shares of NASDAQ:MMSI traded down $1.99 on Friday, hitting $102.76. 405,479 shares of the company were exchanged, compared to its average volume of 435,176. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 50.37, a PEG ratio of 2.62 and a beta of 0.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.82 and a current ratio of 5.36. Merit Medical Systems, Inc. has a one year low of $70.31 and a one year high of $108.07. The company's 50 day moving average price is $100.37 and its two-hundred day moving average price is $93.27.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. The firm had revenue of $339.85 million for the quarter, compared to analysts' expectations of $334.60 million. Merit Medical Systems had a return on equity of 15.61% and a net margin of 9.05%. The business's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. Research analysts expect that Merit Medical Systems, Inc. will post 3.36 earnings per share for the current year.

Wall Street Analyst Weigh In

MMSI has been the topic of several analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $109.00 target price on shares of Merit Medical Systems in a research report on Thursday, October 31st. Barrington Research reissued an "outperform" rating and set a $114.00 target price on shares of Merit Medical Systems in a research note on Thursday, October 31st. StockNews.com lowered Merit Medical Systems from a "buy" rating to a "hold" rating in a report on Sunday, November 3rd. Piper Sandler reiterated an "overweight" rating and issued a $110.00 target price (up previously from $100.00) on shares of Merit Medical Systems in a report on Monday, September 9th. Finally, Wells Fargo & Company raised shares of Merit Medical Systems from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $103.00 to $120.00 in a research note on Wednesday. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $105.09.

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.