William Blair Investment Management LLC Sells 751,501 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

William Blair Investment Management LLC lowered its holdings in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 52.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 687,031 shares of the medical instruments supplier's stock after selling 751,501 shares during the quarter. William Blair Investment Management LLC owned about 1.18% of Merit Medical Systems worth $66,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Atria Investments Inc raised its holdings in Merit Medical Systems by 25.5% in the 3rd quarter. Atria Investments Inc now owns 10,461 shares of the medical instruments supplier's stock worth $1,034,000 after acquiring an additional 2,127 shares during the period. Natixis Advisors LLC increased its stake in shares of Merit Medical Systems by 1.5% in the third quarter. Natixis Advisors LLC now owns 67,544 shares of the medical instruments supplier's stock worth $6,675,000 after purchasing an additional 1,009 shares during the period. Quest Partners LLC lifted its position in shares of Merit Medical Systems by 92.6% during the 3rd quarter. Quest Partners LLC now owns 11,843 shares of the medical instruments supplier's stock worth $1,170,000 after purchasing an additional 5,695 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Merit Medical Systems by 20.1% during the 3rd quarter. Pathstone Holdings LLC now owns 34,950 shares of the medical instruments supplier's stock valued at $3,454,000 after purchasing an additional 5,844 shares during the period. Finally, Jennison Associates LLC acquired a new stake in Merit Medical Systems in the 3rd quarter valued at approximately $935,000. Institutional investors and hedge funds own 99.66% of the company's stock.

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Insider Transactions at Merit Medical Systems

In other news, Director Stephen C. Evans sold 5,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $105.31, for a total value of $526,550.00. Following the completion of the sale, the director now directly owns 4,657 shares in the company, valued at approximately $490,428.67. This trade represents a 51.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Fred P. Lampropoulos sold 31,320 shares of Merit Medical Systems stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 1,086,028 shares of the company's stock, valued at $112,794,868.08. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,132 shares of company stock valued at $11,139,521. Corporate insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

MMSI has been the subject of a number of research analyst reports. Raymond James upped their price target on Merit Medical Systems from $105.00 to $110.00 and gave the stock an "outperform" rating in a 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 on the stock in a research report on Wednesday, February 26th. Barrington Research cut their price objective on shares of Merit Medical Systems from $115.00 to $111.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Piper Sandler reiterated an "overweight" rating and issued 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, Needham & Company LLC lowered their price target on 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. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $110.78.

Merit Medical Systems Price Performance

Merit Medical Systems stock traded up $0.40 during mid-day trading on Friday, hitting $101.68. 1,239,164 shares of the company were exchanged, compared to its average volume of 424,328. The company has a market capitalization of $5.98 billion, a PE ratio of 49.84, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. The business has a fifty day moving average of $103.82 and a 200 day moving average of $100.71. Merit Medical Systems, Inc. has a 1-year low of $70.70 and a 1-year 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.

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.