Townsquare Capital LLC Grows Holdings in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Townsquare Capital LLC grew its position in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,907 shares of the medical instruments supplier's stock after buying an additional 5,326 shares during the quarter. Townsquare Capital LLC owned 0.06% of Merit Medical Systems worth $3,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC purchased a new stake in Merit Medical Systems during the fourth quarter valued at approximately $32,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Merit Medical Systems in the 4th quarter worth $52,000. Federated Hermes Inc. raised its holdings in Merit Medical Systems by 139.1% in the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after purchasing an additional 381 shares during the period. Smartleaf Asset Management LLC lifted its position in 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 purchasing an additional 977 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in 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 purchasing an additional 191 shares during the period. Institutional investors own 99.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barrington Research reiterated an "outperform" rating and set a $111.00 price objective on shares of Merit Medical Systems in a research note on Friday, April 11th. 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 research note on Friday, March 28th. They issued an "overweight" rating and a $120.00 price target for the company. 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, Needham & Company LLC reaffirmed a "buy" rating and set a $116.00 price objective on shares of Merit Medical Systems in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $114.33.

Merit Medical Systems Stock Performance

Shares of Merit Medical Systems stock traded up $0.32 during midday trading on Friday, hitting $90.89. The company had a trading volume of 627,778 shares, compared to its average volume of 485,931. The company has a fifty day simple moving average of $100.15 and a 200 day simple moving average of $100.62. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 44.55, a PEG ratio of 2.34 and a beta of 0.85. 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, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45.

Insider Activity

In other Merit Medical Systems news, Director Stephen C. Evans sold 5,000 shares of the business's 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 sale, the director now owns 4,657 shares in the company, valued at approximately $490,428.67. The trade was a 51.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fred P. Lampropoulos sold 31,320 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock valued at $11,139,521 over the last ninety days. 3.70% of the stock is currently owned by insiders.

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.