Merit Medical Systems, Inc. (NASDAQ:MMSI) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 32.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,171 shares of the medical instruments supplier's stock after purchasing an additional 19,001 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of Merit Medical Systems worth $7,561,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MMSI. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Merit Medical Systems during the fourth quarter valued at approximately $52,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Merit Medical Systems during the third quarter valued at approximately $120,000. Smartleaf Asset Management LLC lifted its stake in shares of Merit Medical Systems by 237.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock valued at $134,000 after buying an additional 977 shares during the period. GAMMA Investing LLC lifted its stake in shares of Merit Medical Systems by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 1,494 shares of the medical instruments supplier's stock valued at $144,000 after buying an additional 191 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in shares of Merit Medical Systems by 13.9% during the third quarter. TD Private Client Wealth LLC now owns 1,732 shares of the medical instruments supplier's stock valued at $171,000 after buying an additional 211 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group cut their price target on shares of Merit Medical Systems from $128.00 to $127.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC cut their price target on shares of Merit Medical Systems from $122.00 to $116.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price target on shares of Merit Medical Systems from $120.00 to $117.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Barrington Research cut their price target on shares of Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Finally, Raymond James increased their price target on shares of Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 31st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Merit Medical Systems currently has an average rating of "Moderate Buy" and a consensus target price of $110.78.

Insider Activity

In related news, insider Brian G. Lloyd sold 30,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $102.90, for a total transaction of $3,087,000.00. Following the completion of the sale, the insider now directly owns 38,945 shares of the company's stock, valued at approximately $4,007,440.50. This trade represents a 43.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Raul Jr. Parra sold 12,451 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the sale, the chief financial officer now directly owns 24,201 shares of the company's stock, valued at approximately $2,391,300.81. The trade was a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,132 shares of company stock valued at $11,139,521. Company insiders own 3.70% of the company's stock.

Merit Medical Systems Trading Down 0.7 %

Shares of MMSI stock traded down $0.74 during mid-day trading on Tuesday, reaching $99.95. The company's stock had a trading volume of 490,080 shares, compared to its average volume of 418,006. The company's 50 day simple moving average is $103.61 and its 200-day simple moving average is $100.68. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45. The company has a quick ratio of 3.82, a current ratio of 5.36 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $5.88 billion, a PE ratio of 49.00, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91.

Merit Medical Systems 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.