Jump Financial LLC Acquires 25,833 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Jump Financial LLC lifted its stake in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 391.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,429 shares of the medical instruments supplier's stock after purchasing an additional 25,833 shares during the period. Jump Financial LLC owned 0.06% of Merit Medical Systems worth $3,137,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MMSI. Stifel Financial Corp increased its position in Merit Medical Systems by 20.7% in the third 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 in the last quarter. Barclays PLC grew its stake in shares of Merit Medical Systems by 305.4% during the 3rd quarter. Barclays PLC now owns 112,727 shares of the medical instruments supplier's stock valued at $11,142,000 after acquiring an additional 84,923 shares during the period. Sanctuary Advisors LLC purchased a new stake in Merit Medical Systems in the 3rd quarter worth approximately $207,000. Tidal Investments LLC raised its stake in Merit Medical Systems by 1.0% during the 3rd quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier's stock worth $1,028,000 after acquiring an additional 104 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Merit Medical Systems by 43.0% during the third quarter. Franklin Resources Inc. now owns 559,395 shares of the medical instruments supplier's stock valued at $53,433,000 after purchasing an additional 168,174 shares in the last quarter. 99.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Merit Medical Systems

In other news, CEO Fred P. Lampropoulos sold 31,320 shares of the stock in a transaction 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 owns 1,086,028 shares of the company's stock, valued at approximately $112,794,868.08. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen C. Evans sold 5,000 shares of Merit Medical Systems stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $105.31, for a total transaction of $526,550.00. Following the transaction, the director now directly owns 4,657 shares of the company's stock, valued at approximately $490,428.67. This represents a 51.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,132 shares of company stock worth $11,139,521 over the last ninety days. Company insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MMSI. Raymond James raised their price objective on shares of Merit Medical Systems from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday, December 31st. JPMorgan Chase & Co. started coverage on Merit Medical Systems in a report on Friday, March 28th. They set an "overweight" rating and a $120.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $116.00 price objective on shares of Merit Medical Systems in a research note on Wednesday, April 9th. Piper Sandler reissued an "overweight" rating and set a $116.00 target price (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. Finally, Barrington Research restated an "outperform" rating and issued a $111.00 price target on shares of Merit Medical Systems in a research note on Friday, April 11th. Two 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $114.33.

Merit Medical Systems Stock Up 0.4 %

Shares of NASDAQ MMSI opened at $90.89 on Friday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45. The firm's 50-day moving average price is $100.51 and its 200-day moving average price is $100.66. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 44.55, a P/E/G ratio of 2.34 and a beta of 0.85.

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.

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