LPL Financial LLC Purchases 10,526 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

LPL Financial LLC boosted its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,592 shares of the medical instruments supplier's stock after buying an additional 10,526 shares during the period. LPL Financial LLC owned about 0.09% of Merit Medical Systems worth $5,555,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its holdings in shares of Merit Medical Systems by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the medical instruments supplier's stock valued at $2,728,000 after acquiring an additional 100 shares during the period. Avantax Advisory Services Inc. raised its stake in Merit Medical Systems by 4.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,347 shares of the medical instruments supplier's stock valued at $227,000 after purchasing an additional 103 shares during the period. Tidal Investments LLC boosted its position in shares of Merit Medical Systems by 1.0% in the third quarter. Tidal Investments LLC now owns 10,398 shares of the medical instruments supplier's stock worth $1,028,000 after buying an additional 104 shares during the period. Arizona State Retirement System boosted its position in shares of Merit Medical Systems by 0.8% in the fourth quarter. Arizona State Retirement System now owns 16,869 shares of the medical instruments supplier's stock worth $1,632,000 after buying an additional 137 shares during the period. Finally, Captrust Financial Advisors grew its holdings in shares of Merit Medical Systems by 2.6% during the third quarter. Captrust Financial Advisors now owns 7,440 shares of the medical instruments supplier's stock valued at $735,000 after buying an additional 187 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.

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Merit Medical Systems Stock Performance

Merit Medical Systems stock traded up $0.50 during trading hours on Friday, reaching $92.04. 749,192 shares of the company were exchanged, compared to its average volume of 480,543. Merit Medical Systems, Inc. has a 12 month low of $70.70 and a 12 month 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 stock has a 50-day moving average of $101.92 and a 200 day moving average of $100.86. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 45.12, a PEG ratio of 2.34 and a beta of 0.85.

Insider Buying and Selling

In related news, CEO Fred P. Lampropoulos sold 31,320 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $103.86, for a total transaction of $3,252,895.20. Following the completion of the transaction, the chief executive officer now owns 1,086,028 shares of the company's stock, valued at approximately $112,794,868.08. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian G. Lloyd sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the sale, the insider now directly owns 38,993 shares in the company, valued at $3,879,803.50. This trade represents a 39.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 109,132 shares of company stock valued at $11,139,521. Company insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MMSI shares. Raymond James raised their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 31st. Canaccord Genuity Group decreased their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Piper Sandler reiterated an "overweight" rating and issued a $116.00 price objective (up previously from $114.00) on shares of Merit Medical Systems in a research note on Wednesday, January 29th. JPMorgan Chase & Co. initiated coverage on shares of Merit Medical Systems in a research note on Friday, March 28th. They set an "overweight" rating and a $120.00 target price for the company. Finally, Barrington Research restated an "outperform" rating and set a $111.00 price target on shares of Merit Medical Systems in a report on Friday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.33.

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.